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LET’S GET PHYSICAL: One Media launches new vinyl imprint as market explodes
19 January 2024
Press Release
ONE MEDIA IP LAUNCHES VINYL IMPRINT AS MARKET EXPLODES
DIGITAL MUSIC FIRM GETS PHYSICAL
LONDON: One of the world’s first digital-only record companies, One Media iP, has launched a vinyl imprint to exploit the continuing growth of the UK vinyl market.
One Media iP PLC (OMIP:LON) unveiled its new record label, ‘The Carolean’, to take advantage of the explosion in the vinyl sector, which has just posted its sixteenth consecutive year of growth in the UK. A recent report from the Entertainment Retailers Association showed vinyl sales grew by 17.8% in 2023, generating £177.3m in revenue.
One Media will use its Carolean record label to reissue some of the biggest songs and artists from its 250,000-strong catalogue. Initial reissues include collections from Mungo Jerry, who’s global hit ‘In the Summertime’ remains the joint-third biggest selling single of all time (30 million sales), The Troggs, disco legend George McCrae and soul-reggae star Judy Boucher.
One Media’s CEO, Michael Infante (pictured), said:
“The hunger for physical product – vinyl in particular – among music fans is something we’ve been tracking for several years and we believe it’s a niche now worth exploring. One Media is still, at its core, a digital record company and distributor: we were the first to acquire and exploit digital rights in 2005 – long before the major record companies and hedge funds – and 95% of our revenue comes from streaming. But, like most other music fans, we have a soft spot for 33’s and 45’s and now there’s a genuine business case to ‘get physical’!”
The Carolean – so named after the era of King Charles 3rd (the ‘Carolean’ age, as opposed to the former ‘Elizabethan’ age) – will reissue the four albums below, with the Mungo Jerry LP in mono, as a special. The first four releases will be followed with a further tranche of four reissues – details TBA. The catalogue will be distributed by Lasgo.
The first four reissues on The Carolean record label:
The Troggs – Wild Thing
Judy Boucher – Can’t Be With You Tonight
George McCrae – Rock Your Baby
Mungo Jerry – Ten Grooves in Glorious Mono
Order link: Search (vinyltap.co.uk)
Vinyl Market 2023 – Key Stats
-UK market is now worth £177.3m
-1m vinyl sales in the UK in 2023
-8% increase in vinyl sales compared to 2022
-Highest sales since 1990
– 16th consecutive year of growth
Biggest sellers of 2023 in UK:
1 Taylor Swift ‘1989 (Taylor’s Version)’
2 Rolling Stones ‘Hackney Diamonds’
3 Lana Del Ray ‘Did You Know There’s a Tunnel Under Ocean Blvd’
4 Taylor Swift ‘Speak Now’ (Taylor’s Version)
5 Fleetwood Mac ‘Rumours’
[Sources Musictech.com / ERA / BPI]
PR CONTACT
Pete Flatt, PPR Publicity Ltd.
07930 304 301
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CURRENT NEWS COVERAGE
Complete Music Update, 22nd January 2024: https://completemusicupdate.com/one-liners-kygo-x-ava-max-shaun-ryder-ava-london-more/
Record of the Day, 21st January 2024: https://www.recordoftheday.com/on-the-move/news-press/one-media-ip-cues-up-new-vinyl-record-label-as-market-explodes