On the same day that The Beatles headed into the future by joining streaming services, mail-order club Columbia House announced that they will relaunch with a focus on the past.
John Lippman, the current owner of the historic brand name, told The Wall Street Journal that Columbia House will try to cash in on the current trend of buying music on vinyl. It’s still a niche market, but the popularity of vinyl remains on the rise, with current artists from Adele to Taylor Swift releasing their albums on vinyl.
“You can see a yearning and an interest to try a new format,” Lippman said, referring to the popularity of vinyl among millennials.
Columbia House began during the 1950s, when vinyl was the only physical music medium available. The company survived 8-tracks, cassette tapes and CDs, reaching its peak in 1996. However, the company continued to shrink until all that existed was a DVD club with 110,000 members. In August, Filmed Entertainment Inc. filed for bankruptcy.
Lippman, 41, has controlled the brand for the past three years. He spent $1.5 million to buy the rest of the company to keep it alive.
According to the Recording Industry of America, vinyl records sales jumped 52 percent during the first half of 2015. But vinyl still makes up just 7 percent of the overall music market.