Vinyl record prices are set to rise again. Universal Music Australia has confirmed that prices will increase on May 5th.
Universal Music Confirms the Price Hike
In a letter to retail partners Alisa Lai, VP of Commercial at Universal Music Group Australia, states that, “Due to cost pressures in materials, manufacturing, and logistics, we are required to implement a PPD increase across a selected range of vinyl titles, despite our best efforts to absorb this increase in costs.”
Brisbane record seller Wax Lyrical shared Universal’s letter on Instagram, expressing concern over the rising costs. “Becoming impossible to exist,” they share.
How Glitter Records Navigates Rising Prices
When I launched my own record shop, Glitter Records, three years ago I experimented with selling new releases. A key reason was to encourage customers to visit our physical location in Brisbane’s California Lane for the first time. However, with many new records priced at something like $35 wholesale and only offering a $5 profit margin? It wasn’t sustainable—especially when one in four records may never sell.
To ensure long-term viability, I shifted focus. I began to pay closer attention to developing a consignment system with local artists, making in-store trades, and devoting more of my time to seeking a deeper understanding of the secondary market. Recognizing inflation’s impact well ahead of time, I also prioritized offering affordable options for casual buyers while building a unique catalog of rare releases for serious collectors.
How Vinyl Record Prices Affect Vinyl Collecting
Post-COVID inflation has already increased vinyl costs. As a result of this, I’ve noticed non-collectors calling vinyl records “expensive.” This might discourage newcomers, but within the collecting community enthusiasm for vinyl remains strong.
For budget-conscious collectors, I have observed first-hand that second-hand vinyl and CDs are proving a more affordable alternative.
My view is this. The joy of collecting won’t fade, but the collecting dynamic will certainly shift in the coming year.
