Hot wax: Sales of LPs reached their highest level since 1990 last year
Roaring demand for vinyl records has boosted profits at HMV’s parent company.
Annual profits more than doubled from £2million to £5.3million over the year to May 2023, the music and entertainment retailer’s owner Sunrise Records & Entertainment said.
A boom in interest for vinyls was one of the driving forces behind sales leaping 18 per cent from £151million to £178million.
Last year albums from Harry Styles and Taylor Swift were vinyl best-sellers.
Sales of LPs reached their highest level since 1990 last year, according to the British Phonographic Industry (BPI) association.
Almost 6m vinyls were sold, an 11.7 per cent surge on the year before.
HMV also benefited from demand for products related to Japanese animation anime and K-pop, a South Korean pop music genre.
The firm stocks more than 8,000 vinyl records at its flagship store on London’s Oxford Street, which was reopened in December.
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