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Earlier this year, Music Week reported that Key Production had seen a 50% surge in vinyl orders in 2025.
And while, according to recent BPI figures, vinyl sales are wobbling this year, Key Production COO Neil Gibbons suggests that those figures may not tell the full story. In a new op-ed for Music Week, Gibbons, outlines why the industry should “look beyond the headline figures”…
“Over the last few years, we have seen a long-awaited resurgence in the joy of owning physical music. Fans are buying vinyl and CDs again – not just to listen at home, but because they genuinely enjoy the experience of owning something real. It’s a trend we’re seeing across all age groups, from younger listeners to longtime collectors.
“Recent quarterly stats have raised questions about whether there is a slowing down of the appetite for physical music formats and, in the case of CDs, a decline. However, it’s important to look beyond the headline figures and consider the broader context behind the numbers.
“Whilst it’s fair to say Q2 is down compared to last year, natural quarterly market fluctuations alongside spikes of big, physical product selling releases like Taylor Swift, Billie Eilish and Dua Lipa in 2024 will always affect data, just as much as big artist moments like Oasis’ return is likely to for Q3 2025 data. Looking at Q3, Q4 and even Q1 2026, as we take orders to fill expected demand, things look pretty strong.
When I told our contact at the vinyl compound factory I was writing this article as a response to a suggested downturn in the physical market, he genuinely laughed
“Overall, we have seen a substantial YoY increase in the number of vinyl units pressed so far this year. One of the European vinyl compound suppliers says business is booming and their factory is working around the clock to fill demand. They are reporting a 16% year-on-year increase and ‘substantial incoming orders’. These orders come from a diverse array of artists and genres and reflect an expanding, maturing market and a cultural shift the likes of which we haven’t seen in decades. This makes me think we are going to have a very exciting second half of the year.
“Physical retailers remain very optimistic. Record Store Day 2025 delivered the best weekly sales for indie retailers in three decades and the number of participating stores this year increased to 278. Only 18 months ago HMV reopened their flagship record store on Oxford Street. Even more recently, Rough Trade announced their expanded partnership with John Lewis, which will feature a curated vinyl range in 23 stores, and continued vinyl growth has led to an expanded profit bonus after a record year. Oasis currently have five pop up stores in the UK and one in Dublin. I think the record store must be the only retailer that’s booming as the traditional high street retail declines.
“In the past, I have been surprised by official stats for UK vinyl sales that are lower than the amount of vinyl Key has delivered to the market for the same period – and this isn’t even the lion’s share of all vinyl delivered! It’s worth remembering that official stats only measure part of the story, many sales as we all know, happen in places that are not chart returnable. They’re sold but slip past that official audit process.
Physical sales from social platforms or on tour can provide significant income, especially for the smaller artists
“Streaming is still dominant but the boom in physical ownership is now driven by so many different factors it’s very difficult to imagine how all of them could suddenly implode at the same time. Fan behaviour has changed. There is a genuine desire to get right inside an artist’s body of work. To take the time to sit down and listen to it. To own it and unpack the product, poster by sticker by lyric sheet and to listen to it as the artist intends for it to be listened to. Fans are now collecting again. Multi-formatting is popular as are bespoke, limited-edition formats. These exclusives are now beginning to compete with the standard vinyl versions and new labels have popped up simply to satisfy this demand.
“Censuswide recently did some research asking fans why they bought physical music and 80% responded saying ‘to support the artist’. And artists know they can rely on this income. Physical sales from social platforms or on tour can provide significant income, especially for the smaller artists.
“CDs are a much lower entry cost to creating a physical format. Easy for artists to transport to gigs and then carry home again by fans. Where else can you get so much value from a £10 spend? Yes, the overall market may be changing for CDs but it is still a robust format for us and one we are very much committed to for the long term.
‘When I told our contact at the vinyl compound factory I was writing this article as a response to a suggested downturn in the physical market, he genuinely laughed. “We are flat out and still growing,” he replied. “June is looking massive”.
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