JB Hi Fi Built their retail operation off the back of music and Blu Ray DVD’s now retailers around the world including JB Hi Fi is dropping the level of physical media they once sold from their stores with specialist audio stores becoming the new location to buy records, DVD’s and cassettes.

Late last year US retailer Best Buy decided that physical media just wasn’t worth the lucrative shelf space it was taking up and announced that it would stop selling DVDs and Blu-rays altogether.

Even Disney who have delivered some of the biggest selling Blu Ray DVDs reached a deal yesterday to license the manufacturing and distribution of its physical media including DVDs, Blu-ray Discs, and 4K Ultra HD Blu-rays, to Sony Pictures Home Entertainment.

The deal includes the company’s vast catalogue of titles, along with any new releases.

In September 2023 in the USA Netflix mailed out its last rental DVDs.

In Australia several specialist audio dealers who also sell premium TV’s have moved to range physical media including the likes of Len Wallis in Sydney, West Coast Hi Fi and the likes of Vinyl Revival in Melbourne.

Analysts believe the move to sell physical media by smaller specialist retailers will drive foot traffic.

In the UK the number of independent record shops at a 10-year high, according to an industry group.

The digital entertainment and retail association (ERA) said there are now 461 indie record shops in the UK – 122 more than 10 years ago.

Currently 8% of all music sales are now in a physical form.

According to observers over 80% of the Australian market goes to streaming subscriptions.

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Despite this the demand for vinyl records around the world continues to grow.

In the UK the demand for records has increased for the 16th year in a row, with 6.5 million sold, taking overall sales above A$330M.

2.2 million of those records were sold through independent stores, $212M of the overall sales were generated by older albums rather than new releases.

Some consumers claim that ‘It’s not about just listening to music, it’s about the actual act of going out to find that album that you really want to find,”.

A visit to Tik Tok reveals a large Vinyl Record Community with hundreds of Australians exchanging comments.

As for where the market is at smartphones were the most common device for listening to music, overtaking in-car radio for the first time with the best performing song of the year being credited to Flowers by Miley Cyrus.

Originally Published via CHANNELNEWS  - 7 Mar 2024

Author - David Richards

Original source - https://www.channelnews.com.au/physical-media-records-blu-ray-dvds-driving-specialist-retail-floor-traffic/?utm_source=Channel+News&utm_campaign=8a3029a2f9-EMAIL_CAMPAIGN_2021_02_15_02_46_COPY_01&utm_medium=email&utm_term=0_410f5f0b2d-8a3029a2f9-62665489