Vinyl prices spike along with popularity
Collectors and DJ's never stopped loving it, but it wasn't all that long ago that vinyl music was at death's door as a format.
That isn't true any longer: vinyl is experiencing a major renaissance. And its popularity isn't the only thing going up — prices are on the way up too.
While some albums cost between $20 and $30, you won't have to look hard to find vinyl that costs $50, $60 or even more than $100.
"Sticker shock is real," said Greg Tonn, owner of Into the Music.
Tonn has been in the vinyl music business for 30 years. He says prices from his suppliers have been on an upswing for the past five years. "To the point now that I'm cautioning the staff not to purchase items for stock in the store that have a price point beyond the mid-thirties. And even that's fairly expensive."
Tonn suspects one of the major causes of the price hike is due to the collapse of CD sales. The once popular format is disappearing from store shelves, a big problem for music companies that Tonn says have relied on profits from CD sales for decades.
"They've transferred those expectations to vinyl," said Tonn.
CTV News reached out to several major record labels, to ask why their album prices have gone up. We have not yet received a response.