Booming vinyl sales are being driven by a hardcore of 157,000 ‘superfans’ who generate millions for the album market each year, new figures reveal.
These superfans accounted for nearly 72 percent of the entire vinyl LP market last year, spending £62.9m on their favourite releases, according to the Entertainment Retailers Association (ERA).
They are prepared to pay out £400 or more on their favourite album format, which last year clocked in at around £20.31 per unit.
In comparison, the average CD price in 2017 was £8.27, with superfans accounting for just one third of the CD and console games markets, and just 11 percent of the DVD market.
Kim Bayley, ERA chief executive, said, ‘Music, video and games may reach virtually the entire population, but it is these £400-a-year superfans who are the backbone of the market.
‘Superfans are the connoisseurs of entertainment. They are passionate about music or film or games and tend to favour the more sophisticated higher-value formats.’