Going Old School: Vinyl Records Make a Comeback2:00
Call it a comeback in the age of iTunes: More and more music lovers are giving vinyl records a spin.
That desire to ditch the digital downloads in favor of the scratchy sounds of retro discs is providing a sales bump to record labels at a time when industry observers were ready to write off records completely.
But now, analog aficionados are far from having to turn their turntables off for the final time.
"It's a great time for records," said Dave Hansen, an owner of Independent Record Pressing, which has six steam-powered presses in its Bordentown, New Jersey, facility.
"Everybody wants vinyl," Hansen told NBC News. "We are selling out faster than we can make."
Independent Record Pressing has plans to produce 1 million LP records a year thanks to the interest from many younger customers.
Those fans are helping to fuel the surge in sales. According to the Recording Industry Association of America, vinyl sales are up 52 percent from the first half of 2014 to the first half of 2015 — or from $145.8 million to $221.8 million.
In fact, the top-selling vinyl album of 2014 — Jack White's "Lazaretto" — is also the top-selling vinyl album of any calendar year since the Nielsen tracking era began in 1991, reported Billboard.
Vinyl's revival, however, can't compare to the revenues from digital music, which was worth $2.3 billion in the first half of the year, up 6 percent from the first half of 2014, according to industry figures.
Still, vinyl is far from extinct. But why?
"People want to have it in their hands," Hansen said, adding that he likes the "pops, idiosyncrasies."
For some, it's not even about the music, but the nostalgia.
"I think there are some people who are buying vinyl and not listening to it — just hanging it on the wall," Hansen added.
Not far from Independent Record Pressing, the renewed love affair with vinyl is in full swing at a mom and pop shop in Bordentown called The Record Collector.
Owner John Chrambanis is actually benefiting from the Internet — it's where he gets a lot of his orders from people looking for the vinyls. His store is stocked with older and rare records.
"If you think all those dusty albums in your basement are obsolete, think again!" he said.
For Chrambanis, the crackle and snap that hums from the record player is music to his ears.
"The warmth that comes out of vinyl you can't compare to CDs," he said.
Martin Shkreli, the former hedge funder who entered the pharmaceutical business, caused rampant outrage when his company, Turing Pharmaceuticals, purchased an anti-bacterial drug called Daraprim and unceremoniously raised the price an astounding 5,500 percent, from $13.50 per pill to $750 per pill.
Now, in addition to stoking the outrage of the American public, Shkreli is under investigation for a litany of crimes, many of which go back to his time in the finance industry and include stock fraud and “other violations of securities rules.”
In short, the 32-year-old is being accused of handing out stocks in his company for favors, to square debts, or to just make the company seem more successful than it actually was.
Retrophin, a biotech company that Shkreli helped found, is suing the businessman to the tune of $65 million dollars for these alleged actions.
And that’s not all.
Shkreli is also being accused of harassing the family of an employee that worked for another one of his businesses, failed investment firm MSMB Capital Management.
A recently filed lawsuit indicates that Shkreli harassed and threatened an employee named Timothy Pierotti, as well as his family, which includes 4 children:
A Bloomberg poll revealed that just under three-quarters of Americans think our greatest days are behind us. Is Republican Presidential candidate onto something with his slogan of “Make America Great Again”?
Republican presidential candidate Donald Trump may be on to something with his campaign slogan.
A Bloomberg poll released Thursday shows 72 percent of the country thinks the United States isn’t as great as it once was.
When asked for the two main issues they thought were the greatest threats to America’s greatness, 31 percent answered moral decay while 27 percent said the country’s lagging work ethic was the biggest problem.
Other answers included the rise of Islamic State, which came in third at 26 percent, followed by the concentration of wealth at 25 percent. Twenty-one percent listed competition from China as their biggest grievance and 12 percent said undocumented immigrants living in the country was their main concern.
Despite Trump saying he wants to “Make America Great Again,” 69 percent of those polled said they couldn’t realistically see him in the White House.
Democratic presidential candidate Hillary Clinton and Republican presidential candidate Jeb Bush received the highest numbers with 47 and 40 percent saying they could envision them as president.
The poll was conducted from Sept. 18-21 based on interviews with 1,001 people over the age of 18 throughout the country with a margin of error of 3.1 percentage points.
While we may not be able to agree on what ails our country the most, we can agree that it is suffering. That is the first step to healing.