"LP fever" that's blowing all over the world...a larger music market than a movie

[Anchor]
LP albums, which once disappeared from memory, are loved again in the retro craze.

With the return of LPs and the development of digital streaming services, the global music market is booming for the first time in decades.

I'm a YouTube reporter on the report.

[Reporter]
America's oldest LP manufacturer is screaming joyfully these days.

The past, which was on the verge of closing, is overshadowed, and now it is unable to handle the influx of orders.

It was crucial to enter large stores like Walmart and Target.

[Mark Michaels / CEO of United Records Press: A whole new consumer base is introduced to LPs as Target and Walmart begin to handle them]

With the popularity of LP, famous singers such as Taylor Swift are working on LP production, which is creating a virtuous cycle that increases demand.

In the United States, LP sales are already overwhelming CDs, and sales have more than doubled.

The return of LP is a worldwide phenomenon.

In Brazil, for the first time in decades, LP sales have outpaced CDs, and used transactions through social media have become unprecedentedly active.

[Rio de Janeiro LP Shop Owner: It was great. I started selling LP because of my livelihood and it was very successful. Sales kept increasing.]

In addition to the LP craze, the music market is booming as various streaming services continue to grow steadily.

Copyright imports alone continued to grow at a high 10% annual rate, reaching $45.5 billion and 65 trillion won last year.

It has surpassed the highest sales ever recorded in the film industry just before the COVID-19 crisis.

The industry has a rosy outlook that the boom is likely to continue for the time being in line with the expansion of smartphone penetration.

It's YTN YouTube.


Video editing: Lim Hyun-chul
Design: Lee Na-eun