It was the 16th consecutive year of growth for record sales, which are about 71% of physical format revenues, and recorded music revenue grew for the seventh consecutive year and reached a record high of $15.9bln
I'm old enough to have bought records and tapes, before CD's came on the seen.
When I was singing in the clubs I even had a mini-disc player with my backing tracks on. LOL.
Here's a VERY interesting stat for you...
According to Luminate, despite this steady growth, only 50 percent of vinyl buyers actually have a record player.
Can you adam and eve it?
Yep, interestingly, vinyl LPs appear to have become a bit of collectors' item for fans, who listen to music digitally but still want to own a physical object.
This ties in with something we were talking about at the Elite mastermind last week, when one of my top dogs, Adam Delderfield of Delders Dogs, did a demo of the ChatGTP artificial intelligence chatbot.
He showed how it can create blogs, and other forms of content in seconds. You can even train it to write like you write.
Everyone was pretty blown away with the demonstration, and looking around the room, I could see cogs whirring as everyone was thinking about the potential, and the implications for our industry.
Because obviously, any tool that can help you do stuff quicker, easier and at scale is a good thing, right?
Well... yes and no.
It's an unbelievable tool without a doubt. And it will have far reaching consequences for all industries, including us pet people.
However, if you think it's going to be the be all and end all, then you are somewhat missing the bigger picture, as you are only seeing the world through 'digital eyes'.
The fact is, a lot of people don't spend a lot of time face to face looking at things digitally.
Certainly, they don't spend as much time as you do 'online'.
You need to be offering more 'experiencial' forms of marketing your services.
Because that is what they want, and that is how they are used to buying things, its how they expect from a premium business.
'Why do I need to go offline Dom? Why do I need to spend more money on experiences, and marketing that moves my prospects? Why can't I just do social media stuff? It's quick, easy and cheap?'
Well, even if we look overlook the fact that quick, easy, cheap marketing often results in zero loyaltly, difficult to work with, low-quality clients....my answer would be, for the same reason that some people by vinyl records when they could just listen to stuff on Spotify?
Because they don't want just online.
And you won't get them using just online marketing.
If you want to know to protect your pet business from the march of the CHATGTP machines, then you need to plug into a coach who understands and practises this stuff.
You can continue to smell the marketing BS the social media gooroos are peddling, and put all of your eggs in the 'digital basket', or you can start using offline AND online marketing and truly stand out from the competition.
The choice is yours...