The Money Shot: record fan fallacy

A person browsing records in a shop
Dave was determined to find a copy of Daphne & Celeste's 'U.G.L.Y.'
"Don't call me a hipster – I just want nice things on the walls!"
  • | by Emily Bater

With sales of vinyl at their highest since the 1960s and record stores opening their doors once again for Record Store Day on Saturday 16 April, the UK is in the middle of its biggest vinyl revival in decades – but does the trend really equate to an increased love of vinyl records?

According to a poll by ICM shared with the BBC, almost half of people (48%) who bought vinyl last month haven't listened to it yet.

Amazingly, 7% of people who bought records recently don't even own a turntable to play their purchases on.

Bristolian Michael Astley-Brown, 26, an editor at Musicradar.com, is one of the many people who don't play their vinyl records: "I own a handful, purely to put them up on the walls as art. In all cases, I own the CD, too.

"Don't call me a hipster – I just want nice things on the walls!"

A wall of gig posters in a record shop

Carwyn Edwards, also 26 and a PhD student from York, doesn't agree with the research: "I find it the opposite. Most of the vinyl I buy is off the cuff from second-hand places, because I like the look of it."

Half of the people polled listened to an album online via a streaming service before buying a vinyl copy, according to the report. This ties into consumers considering themselves 'collectors' – 50% bought an album to have a memento, rather than as way to listen to music.

Record sales have been reaching highs in recent years – in 2014, 2.1m albums were bought. 

Adele's 25 was the biggest selling album on vinyl in 2015 – an album which hasn't been made available on streaming services. 

And the trend is continuing at a pace. In just the first three months of 2016 637,056 records have been sold, according to the Official Charts Company.

Do you buy records and fail to listen to them? Are they gathering dust or hanging in frames? Tell us on Facebook and Twitter

News in brief

Five EU countries have welcomed a new crackdown on international tax dodging, after the Panama Papers leak. Tax and law enforcement agencies in UK, France, Germany, Spain and Italy have agreed to share data.

Premier League football clubs saw an increased combined revenue of 3% in 2014-15 to £3.4bn – a new record. Their pre-tax profits fell, however, to £120m from £190m.

House prices are set to slow down in the next few months according to the Royal Institute of Chartered Surveyors (RICS). The Stamp Duty increases for landlords and the EU referendum were factors too, said RICS.

On Covered mag this week

Dan Bevis gives us a history of the Aston Martin DB.

We asked the UK's best money bloggers what their favourite money-saving apps are.

Dr Moore-Money bends a sympathetic ear to your motoring woes.

Money Shot Letters

Sir,

I write to you this morning to condemn this usually reliable source of financial news's hysterical reporting of the so-called 'Panama Papers'.

As usual, the elitist, liberal left-wing media has got its knickers in an undue twist about something which is perfectly above board.

Why should people not use an offshore vehicle to squirrel away money where the grasping hands of HMRC can't get their filthy hands on it?

Lord knows, I begrudge my hard-earned tax being frittered on such extravagances as 'community centres', Playstations for oiks in borstal and lavish salaries for the luvvies at the BBC.

It's a world gone mad.

Yours furiously,

Ken Bishop, Poole
 
Join us next week for another rewind-requesting edition of the Money Shot. Until then,  send us your letters