Record Store Day set to deliver £10m boost to indie record shops

17 April 2024 - Press release

Annual celebration takes place this Saturday April 20

 

Record Store Day, the annual celebration of indie record store culture taking place this Saturday (April 20), is expected to deliver a £9.7m boost to indie record shops, helping secure the future of one of the key pillars of grassroots music culture.

The £9.7m figure is an estimate of the sales value of the 443 exclusive releases which will be made available through indie stores on Record Store Day. This year these range from Ringo Starr’s “Crooked Boy” EP which includes four brand-new tracks, to an Olivia Rodrigo & Noah Kahan split 7” of “Stick Season” and “Lacy” from the BBC Radio 1 Live Lounge to a stunning reissue of Young Father’s Mercury Award winning debut album “Dead”, limited to just 2000 copies. 

The analysis, prepared by digital entertainment and retail association ERA which organises Record Store UK on behalf of 270 indie retailers, does not include incremental revenue of non-Record Store Day music titles made on the day, nor money generated by food, drink and other items. The actual total through store tills is likely to be higher.

In 2023 ERA estimates that exclusives sold on Record Store Day accounted for nearly 10% of annual sales of all physical music product through High Street stores. Last month ERA announced that indie store numbers have hit a 10 year high in part propelled by Record Store Day.

ERA CEO Kim Bayley said, “Record Store Day is a cultural phenomenon which draws in tens of thousands of music fans across the country, but it is also a financial lifeline for a vital element of music’s unique ecosystem. Without Record Store Day, many would find it difficult to stay in business. We are grateful to the artists and labels who work so hard to create exclusive Record Store Day product and of course to the fans who turn out to support their local stores in such numbers.”

Record Store Day UK coordinator Megan Page said, “Saturday is going to be quite a day. Indie stores can be incredibly proud of what they have achieved. There will be live music, DJ sets, parties and performances in every corner of the country to celebrate. The important thing is people don’t forget that indie record stores are also great places to go to when it’s not Record Store Day.”

This year’s Record Store Day UK ambassador, Kate Bush, said “Each year Record Store Day gathers more attention, more momentum, and attracts more people who cram into indie record stores all over the world to see what’s up. What’s new? This year, I hope you have a fantastic time at this very important event, and that you get to celebrate music that’s been specially released for you”. You can read her full statement here.