Vinyl Group Eyes U.K. Entry With Vinyl.com
Vinyl Group now has the United Kingdom in its sights through the rollout of Vinyl.com.
The “strategic expansion” into the U.K., one of the world’s top 10 recorded music markets, according to the IFPI, leverages the recent acquisition of Serenade, the Web3 pioneer which has operated there for more than three years.
“We are thrilled to bring Vinyl.com to the U.K., one of the largest and most influential music markets in the world,” comments Josh Simons, CEO of Vinyl Group.
The acquisition last month of Serenade’s assets, including its UK subsidiary, provides the business with “the perfect platform for this expansion, allowing us to combine Serenade’s cutting-edge approach with our comprehensive distribution and e-commerce capabilities,” Simons continues.
“We believe this launch will not only strengthen our presence in Europe but also accelerate our vision of becoming the premier global destination for vinyl lovers and super fans.”
Sales of vinyl continue to boom in the U.K. According to the British Phonographic Industry (BPI), vinyl album revenues in 2023 ballooned by 18.6% year-on-year to £142 million ($276 million), thanks in part to hit releases from Taylor Swift, The Rolling Stones and Lana Del Rey.
Led by Max Shand and launched during the pandemic, in 2020, Serenade began life as a platform that facilitated personalised (and shareable) interaction between artists and their fans.
The business flipped the script, pivoting as an eco-friendly music Web3 marketplace which has served 200-plus global artists including Liam and Noel Gallagher, Muse, Sum 41, Twenty One Pilots, and Thirty Seconds to Mars.
Serenade made its entry in the U.K. in 2021, and served as the official NFT provider for the 2022 BRIT Awards.
The push into the U.K. is the latest in a string of eye-catching deals for Vinyl Group (ASX: VNL), Australia’s only ASX-listed music company, which includes an arrangement to buy Funkified Entertainment, the purchase of Mediaweek and the completion of a new commercial partnership with Songtradr.
Based in Sydney, Vinyl Group made global headlines with its purchase of The Brag Media, announced in December 2023 and completed in late January 2024, a pact that welcomed The Brag’s suite of titles into the Vinyl fold, including Rolling Stone AU/NZ, Variety AU/NZ, Tone Deaf, and The Music Network.