Editors' Note: Many Fast News images are stylised illustrations generated by Dall-E. Photorealism is not intended. View as early and evolving AI art!
Vinyl spins anew,
In the UK market's groove,
Music lovers' cue.
Vinyl Group spins into UK market with new e-commerce platform
ASX-listed music and media business, Vinyl Group (ASX: VNL), has officially launched its e-commerce platform, Vinyl.com, in the United Kingdom.
The move leverages the recent acquisition of Serenade, including its UK subsidiary, marking a significant milestone for Vinyl Group as it seeks to establish Vinyl.com as a leading global destination for music enthusiasts and vinyl record collectors.
The UK expansion comes on the back of a vibrant vinyl market that saw a growth of 11.7% in sales in 2023. The acquisition of Serenade provides Vinyl Group with a strong foundation in the UK, allowing them to tap into existing infrastructure, relationships, and a dedicated consumer base.
"We are thrilled to bring Vinyl.com to the UK, one of the largest and most influential music markets in the world. The recent acquisition of Serenade's assets, including its UK subsidiary, has provided us with the perfect platform for this expansion, allowing us to combine Serenade's cutting-edge approach with our comprehensive distribution and e-commerce capabilities," said Josh Simons, CEO of Vinyl Group. "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."
This move is part of Vinyl Group's growth strategy, which focuses on expanding market reach, investing in sustainable vinyl solutions, and integrating complementary assets into the broader Vinyl.com offering. The company recently announced a new commercial agreement with Songtradr to represent the business’s digital advertising inventory.
Vinyl Group's portfolio includes Vampr, a social-professional networking platform and talent marketplace, Jaxsta, a database of official music credits, Serenade, a pioneer of physical and digital collectibles, and media arm Mediaweek and The Brag Media. The integration of these assets is expected to enhance the Vinyl.com offering, providing a comprehensive service for music lovers and collectors alike.