Rajiv Desai, who founded IPAN, a public relations company, has a prized collection—vinyl records, over 2,000 of them. It is an odd passion considering they have been wiped out by CDs and downloads, but he may be on to something. The New York Times says that vinyl records are making a comeback, joining other products that reinvented themselves to stay afloat, like Swiss mechanical watches, pens and pencils and independent bookstores. Pen- and pencil-makers are learning to sell writing implements in the age of smartphones, tablets and laptops.
Polycarbonate mechanical pencils are fabulous to work with and durable. Similarly, pens are now works of art, studded with precious stones and are collectibles and commemorative pieces. Quartz movements came close to wiping out the mechanical watch industry. It had to be reinvented, not made for utility, but for status. Today, the best mechanical watches are produced for celebrities and royalty, with beautiful mechanisms and histories.
Vinyl is going the same way, but for different reasons. People seem to find it cool again. In the last six years, vinyl sales have tripled; in the first half of 2014, Billboard counted 6.5 million units sold. Currently vinyl makes up 3.5% of overall music sales, according to music tracker Nielsen SoundScan. A decade ago it was 0.2%. Digital downloads and CDs still make up the majority, but sales for those formats are down. Vinyl is the only bright spot in the record industry. Desai may have something truly valuable on his turntable.
