By Alex McFerren
Record prices have increased in price by 24% over the past five years, according to the Discogs website.
This is an increase that can be seen in multiple record stores, mainly chain stores such as HMV where we can see single LP albums being sold for as much as £49.99.
Mike Moran, of Grey And Pink Records in Chester, sees the increase as an insult to the record-buying public.
‘Insult’ to record-buying public
Mr Moran said: “From owning and selling mainly second hand records, the pricing boom hasn’t affected us too much, but you can see a general trend especially in the chain stores, that records are getting more expensive.
“It seems like an insult to the working class consumer, who wants to enjoy the physical format, but are limited by the high price bracket.”
Independent and chain stores alike gave their take on how and why the record market has changed.
Brexit, Ukraine, Middle East impacts
HMV Chester spokesman Andy said: “Record pricing has increased recently due to a number of reasons, originally it was Brexit due to imports of vinyl costing more from European countries.
“Then the Russia-Ukraine war took a toll on the market, making oil prices hike up and records as a result became even more expensive.”
Even the war in the Middle East has had a knock on effect on the record industry, it’s claimed.
“There are only a handful of pressing plants in the UK, meaning most companies have to import the records in and charge more to make profits,” he said.
In the video below, Ronnie Moore, owner of Chester’s Up North Records, has much to say regarding the pricing situation.
The increased cost of records has had effects on music fans, with some of them shocked at the way things are going in the chain stores such as HMV. Music journalist Lewis Hannah, shares his views in the audio interview below.
