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Stock impact report

Gen Z's search for decorative collectibles is fueling vinyl sales [CNN]

Verizon Communications Inc. (VZ) 
Last verizon communications inc. earnings: 4/24 07:30 am Check Earnings Report
US:NYSE Investor Relations: verizon.com/about/investors
Company Research Source: CNN
Gen Z is playing an outsized role in the revival of vinyl sales, which have grown on average by 18% annually in the past five years. About 60% of Gen Z say they buy records, according to Futuresource Consulting's Audio Tech Lifestyles report. But Gen Z isn't necessarily buying records for their unique sound. Around 40% of record buyers in the United States don't own a turntable, noted James Duvall, principal analyst and head of entertainment at Futuresource Consulting. Fifty-six percent of Gen Z fans like vinyl for its aesthetic, while 37% use it as home decor, according to a Vinyl Alliance survey. It's part of what Jared Watson, an assistant professor of marketing at New York University, calls “symbolic consumption.” “It could show that you're a bigger fan or that you appreciate the artist more,” he noted, adding that albums are “affordable art.” The colorful, exclusive variants The vinyl resurgence can largely be traced back to Taylor Swift, who has promoted her albums as Show less Read more
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