Is Vinyl Me, Please DYING?!? It Seems Like It!

[@ConcertBuddie]

You make some good points here. I’ve always questioned some of their decision making, especially in the “extras” of perceived value (stickers, books, booklets, obi sleeves, etc) that mean nothing to me; I’d rather the focus be higher on price & QC. The 40% codes (seemingly once a quarter - or more) seem unusual (and expose how high their regular pricing is). ✌🏻

[@6AM_YT]

100%. I make fun of booklets and stuff, but at least those are functional. I don't need or want non-sense art prints that have nothing to do with the release. I also don't want stencils or whatever with my hip hop records, although they may have stopped that. One of the things I hate about VMP releases are the obi strips and their resealable plastic sleeves. I'm fine with them in theory, but the application almost always creates a scenario where I need to fight with all of it trying to put the record away. It makes me not want to listen to them.

[@pinkrudy]

the new coltrane box is being pressed at VMP facility. also 3 others i forget. the sales were probably to pay off any remaining debt they had from opening their record press facility.

[@6AM_YT]

I assume so, too, however in doing so you're damaging your business model long term for short term gains.

[@pinkrudy]

@@6AM_YT yea this could be the beginning of the end. we'll see.

[@6AM_YT]

@@pinkrudy I hope I'm wrong. I think they do some really great stuff that would leave a void that I'm not sure anyone would fill.

[@B4byG0r1lla]

lol this is a lot of speculation without actually knowing anything, especially to only get sub 200 views. Quality has only been increasing over the past 6 years I’ve been a member as well.

[@6AM_YT]

Thank God you watched it. I would have been really sad if it only got 199 views.

[@B4byG0r1lla]

@@6AM_YTto be fair I only made it through 8 minutes

[@6AM_YT]

@@B4byG0r1lla You missed all the good parts.

[@B4byG0r1lla]

@@6AM_YTit goes beyond “they’re doing a lot of sales and devaluing their product”?

[@B4byG0r1lla]

Nope I fast forwarded to the “cap it at 5k” part re: sextant, think they’ve got somewhere between 30 and 40k subscribers per their CEO’s one interview. Feel like they’re prolly doing fine

[@Universityofvinyl]

Interesting video. I only peripherally pay attention to VMP. Because they’re in Denver I can buy most new titles if I’m interested here in stores - Don’t know if they do this nationally but several shops around Denver carry their monthly Essentials, etc. Their CEO or other high up dude was on the Caropop podcast around the time they released the Miles box - he was gushing about the future and talking up the new Pressing Plant as finally being ready next Month. Hard to know what’s up - maybe they just need the cash to help cover the upfront plant investment?

[@Universityofvinyl]

There are multiple copies of the Black Sabbath VMP available here in Ft Collins at two shops.

[@6AM_YT]

No stores around me carry their releases like that. It's interesting though. I wonder if they wholesale them to the stores because they're in the area?

[@Universityofvinyl]

@@6AM_YT Yep - they wholesale to several shops around Denver - Boulder - Fort Collins.

[@DrunkenSwami]

Even if I could read, I wouldn't read all the words that VMP pays to print.

[@6AM_YT]

Illiterates of the world unite!

[@paulaidenmusic]

They are only making 2000 of the impulse box and can’t believe it’s still available! I pre ordered 40% off

[@6AM_YT]

Only 2000?!? That makes my point worse.

[@jgknick]

What's been happening is I pay for an album and then later I see them selling the same record for 40% off what I paid. I bought the Miles box at full member price. I feel like I'm getting ripped off and I'm feeling very foolish for overpaying. I am thinking about dropping VMP and just giving all my vinyl budget to Acoustic Sounds instead. I have to decide quick because my membership comes up for renewal next month.

[@6AM_YT]

This is my thoughts as well. I assume, and maybe I'm wrong, that many others are feeling the same way.

[@Ngjuig]

The worst part about the way vmp does business now is how they only print well known albums for the most part I miss when they first came out and there was only one track and it was all over the place some of it was well known but a good portion of it was not discovered a lot of good music that exposed me to other genres I wouldn't have even thought of trying the multiple tracks and only pressing well known artists really killed the excitement and interest now I only pop a subscription if there's a huge deal or if it's a record by one of my favorite artists and it looks cool back when I was paying 20 something dollars a month it made sense but at nearly 50 and given I can see 3 months a head for each track what's the point sad really but also how incompetent did everyone around them plus the founders and board have to be for the entire c suite to completely fleece you like they're alleged to have done shows how unstable and unorganized they are which doesn't make me want to come back full time when I have no reason to believe they have any stability on the devaluation of their records the founder and interim ceo in the vmp discord said they'd no longer be repressing records but at the same time they just announced a repress of shades of blue yesterday and he also said some records that no one has been putting pressings out will be repressed thug being an example he stated so I don't really know how you really justify the two statements but it is what it is I guess sad to see vmp slowly burning because I loved what it was but on the other hand why does everything need a subscription especially vinyl of all things

[@6AM_YT]

The best way for VMP to sell subscriptions is FOMO, however repressing so much kills that. There are so many cool, somewhat obscure records they could press that would bring people to the label (are they even a label?) but they don't. I don't understand their long term strategy but like I said, it's going to be a failing one.

[@Ngjuig]

I honestly don't think they have a long term plan currently I think the plan was at least for the old c suite get as much money funneled into funding their stand alone not apart of vmp vmp pressing plant and dipping and not that shits went side ways and the founders had to re step back into the flow of the company they've got nothing pretty much ground up from the little he's personally said in the discord he said shortly after the article dropped we'd be getting a personal address on the situation plus a q and a soon but still waiting on that

[@6AM_YT]

You're probably right, they're probably just winging it. Or, whatever plan they had is about to change quite a bit if the pressing plant is really DOA. It really might be "grab as much silver off the Titanic as you can carry while it's sinking". Time will tell.

[@Ngjuig]

@@6AM_YT I feel like they still have the ability to course correct they only had plans for the boxes and classics to be pressed at the new plant for now it really comes down to if they'll recoup their money or get the plant out of it which I think will be a their door in this titanic situation feel bad for the dude they poached from chad tho wonder how this works out for him

[@beachcomber3036]

I JUST CHECKED OUT VINYL L ME PLEASE 😬 4 THE 1ST TIME 😬 I'M NOT PLEASED 😮 AT ALL 😮 😮 WAY 2 EXPENSIVE 😮😮😮

[@EddieJazzFan]

I agree. Aggravating website, slow shipping, charging your credit card seconds after a pre-order and then the album is released MONTHS later. Is that even legal? And customer service response takes days for a response. The "Throwback Thursday" titles sell out in seconds which pisses me off every time. I'm done when my sub expires!

[@6AM_YT]

This was my last month. I'm not sure what it will take for me to do another year, but I really doubt they'll convince me to do it.

[@Ngjuig]

Prophetic

[@skyediver]

You may prove to be prescient, since I’m posting this on May 3rd and the latest news suggests there will indeed be some type of business challenges for the company in the near term at least. Nice analysis.

[@6AM_YT]

Hopefully they can right the ship, but it's never good when you have to fire your CEO and your CFO.

[@therevrockinrollin]

Spicy topic. I’m starting, yo.

[@therevrockinrollin]

I left over a year ago. I was just doing too much VMP credits. Do want that Air title but it wasn’t on sale 🫠 You make a compelling case that there are issues - I’m pulling for them. I’d just drop the membership nonsense - if that can work them.

[@6AM_YT]

I'm at that same point and credits only work if you're eventually going to be able get records you want. It seems increasingly less likely.

[@jpwhite1977]

Great video BUT Hootenanny is not commonly available through Rhino. Definitely not the record I would’ve asked for but still cool for die hard fans. Unfortunately there aren’t many of us and even less of us who know what VMP is. In the end, another bad decision by VMP.

[@6AM_YT]

I thought Rhino was keeping them all in print. I guess not. If that's the case, then why not release "Let It Be"?

[@jpwhite1977]

@@6AM_YT Let it Be is readily available along with every other release except Hootenanny and Stink.

[@6AM_YT]

@@jpwhite1977 I wonder why?

[@jpwhite1977]

@@6AM_YT I’m guessing there’s not enough demand for those two albums, which makes it funny that VMP decided to release Hootenanny. It’s a terrible entry point for the band.

[@xentakis]

It sounds like a case of ramping up way too much in response to the vinyl boom of 2020-2021. Too bad though, I’ve never been a member but I really enjoy their records here and there.

[@6AM_YT]

I hadn't thought about that. There are so many industries that thought that COVID sales bump was going to last longer than it did and got stuck holding a lot of inventory. I never considered that record labels might be in the same boat.

[@xentakis]

@@6AM_YT Yeah, pressing too much quantity + too many tracks, anthologies, and random releases trying to appeal to too many new customers + building a pressing plant + all the other things you mentioned. Other companies also responded too optimistically in response to supply chain issues and the bump in demand (e.g. MoFi announcing all those one-steps at the end of 2021 and starting construction on their own pressing plant) but VMP seems to have doubled down more than the others. Strange for what always seemed like a very niche business to me.

[@QoraxAudio]

A subscription on records? I didn't know about this and it sounds ridiculous to me. One of the reasons I like records over streaming, is BECAUSE I don't have to deal with any subscription fees...

[@6AM_YT]

It's just a fancy Columbia House.

[@m_recordz]

Even with the current economy (which is doing exceedingly well in the US), VMP still seems like a bad deal to me. $30+ a month has always been a lot of money to me.

[@6AM_YT]

Sarcasm about the economy? The $30 is hard to justify especially when they keep devaluing it.

[@m_recordz]

@@6AM_YTNo sarcasm. It grew at 3.3% last quarter, and that’s continued into this year. All the indicators, from core index to avg. disposable income, are showing the economy is healthy. All of this is moot if you’ve invested in VMP, though. In that case, you’re in trouble!!

[@6AM_YT]

"There are three types of lies: lies, damn lies, statistics, and VMP prices."

[@CJNooberson]

This was quite prescient! IMO, VMP and all subscription-based business models can go f themselves.

[@6AM_YT]

I like them and hate them at the same time. For me, the price is the real problem especially if they're going to continue the sales as they die.