Not sure if this is confirmation of the continuing popularity of vinyl, or a sign that the four horsemen will be riding into town to hail the apocalypse, but Columbia House has announced they are coming back.
Only four months after declaring bankruptcy, Columbia House is set to return in 2016 as a vinyl order delivery service. While vinyl is a mere 7% of the current music market, it is the only physical medium of recorded music that has seen sales grow. In 2015 vinyl accounted for one-third of the physical market and saw sales escalate by 52%.
In their glory days Columbia House accounted for over a billion dollars in annual sales, spurred on by their “buy 8 CD’s for a penny” promotions. They fell rapidly out of favor with the rise of digital downloading and streaming over the last few years.
However, even with CD and DVD sales falling, many bricks and mortar retailers have embraced the vinyl resurgence and have opened whole sections to meet the demand. Here in Toronto, you can find record retailers as well as clothing stores such as Urban Outfitters jumping into the market and in some cases offering exclusive titles.
Let’s wait and see what incentives Columbia House is planning to offer the public upon its return. It should be interesting.