Millennials can be forgiven for not knowing about Columbia House because by the time they grew up this company had practically lost all of its importance that it held on to for decades. This mail-order service actually went bankrupt over the summer primarily because nobody wants to buy discs anymore when digital downloads and streaming have made life so much easier. The company doesn’t want to go down without a fight though and it’s counting on the resurgence of vinyl records for its revival.
Columbia House Record Club is being restarted and as the name suggests it’s going to mainly focus on vinyl records, it’s counting on the resurgence of this format and the popularity of subscription services such as Lootcrate among younger audiences to improve its fortunes.
The company hasn’t confirmed the launch details just yet but it’s likely going to go back to its roots by offering memberships coupled with generous discounts to get people in the door and buying records.
Chasing younger audiences that are drawn towards this platform makes sense but reaching out to them will prove to be a challenge for the company, a big chunk of this audience grew up with services like YouTube and iTunes, Columbia House isn’t exactly a name they might be familiar with.
It remains to be seen though if this strategy works for Columbia House, but the fact remains that vinyl is making a comeback of sorts. Sales of vinyl records are picking up and this format still accounts for 7 percent of the overall music market.
Filed in .. Source: engadget