Hello, everyone! Thank you for taking a little time out of your schedule to spend with us. We haven’t run as many advice columns as we typically do this week, but hopefully the appearance of this article will make a difference. Vinyl is big right now, but it’s not as big as everyone seems to think, and as a result it can cause serious problems for unsigned bands seeking to press their next release.
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Before we begin I just wanted to say that this article was inspired by the news that the soundtrack to Forrest Gump is being pressed to triple disc vinyl in the near future. That said, it’s written with the hope of saving unsigned artists from taking on unnecessary debt for the sake of coming across as cool or hip.
It’s impossible to search for news on the music industry without stumbling across articles highlighting the continued decline in record sales. In fact, the only area of music sales that has seen any kind of consistent growth in recent years has been vinyl. Yes, the format many once thought dead has made a resurgence, causing labels of all sizes to begin pressing many more albums each year than the year(s) prior. What was once a popular trend amongst indie labels has now caught the attention of majors, thanks in part to events like Record Store Day, and as a result the market has become flooded with albums that, at least in my opinion, never really needed to be pressed to vinyl in the first place. More importantly, this upward trend in vinyl sales has led many unsigned artists to press their own records without the support of a label. I’m as big a fan of DIY artists as anyone you are likely to find in 2014, but as someone who owns a small record label and understands the costs associated with these releases I believe there are far better ways artists could be investing their money.
Vinyl is selling well, yes, but the total sales for every vinyl record sold this year will still account for less than 10% of all the money made from music sales in 2014. Of that 10%, the vast majority of the profits will go to major indie artists and labels who can afford to press so many records that their break even points are extremely low. The mom and pop record labels will follow them, making whatever they can scrape together after covering costs, and after them will be the indie bands that were so popular they found a record deal somewhere in the middle of the year. The point I am trying to make is that there is no real money to be made in this area of music, especially for bands who are likely still struggling to make enough playing shows to support a full US tour. Playing music should never be about making money, of course, but if you want to get ahead you need to learn to consider your efforts – at least in part – as a business. In order to have a successful business you need to grow, and in order to do that you need money. Not a lot of money necessarily, but some, and if you have the funds available to afford a small (300-500 copy) run of vinyl then you have enough to make a big impact on other areas of your business.
How much money are we talking? A typical 300 copy run of 12” LPs with one variant color, basic packaging, and full color jackets will cost you somewhere between $2000 and $2500. A 500 copy run will likely fall in that same range, but if you want high quality audio (180g) or special packaging (gatefold, multiple discs) that rate goes up. This is also before we take into account the cost of shipping materials such as boxes and tape, or the amount of time you will have to spend packing and shipping the records when they come in. I know you don’t consider the time you spend packing orders as something that costs anyone any money, but there is a value to that. The time you spend working on things like merch is time not spent honing your craft.
Let’s forget about the money for a second. Do you have space to store and keep vinyl? Even small runs will fill a few large boxes, and unless you sell out right away you are going to have to keep those records stored somewhere cool and safe. These are not CDs, and as such they cannot stay in your van or trailer in between gigs. Records can be warped from heat, even if they’re not directly exposed to the sun, and that is only the tip of the iceberg when it comes to things that can ruin an album before it’s even spun. Are you ready to take on the commitment to preserve these records until they’re sold? More importantly, is that a commitment you should be taking on at this time?
The only independent artists who should be concerning themselves with vinyl are those who have found a label willing to press their work and those who have found a way to make music their full time career. If you’re not at that point, don’t let a lack of vinyl be the thing that keeps you up at night. If fans express a desire for vinyl releases, be honest with them and explain the situation. Who knows? You may find that they support you enough to help pay for such a release through Kickstarter or Indiegogo. Even if that happens however, I urge you to think twice about where and how you invest your money. Vinyl is pretty and yes, it sounds great, but is pressing your first or second recording as a group really going to aide you in furthering your career?If so, will it have a better impact than, say, funding a tour or even additional new recordings? Weigh all your options before moving forward, and never be afraid to be honest with fans about the reasons for your decision.
