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Get ready to shell out more cash for new vinyl records of your favourite artists starting next month.
Independent music stores shared the heartless news Wednesday that major record labels like Universal Music Canada and Warner Music Canada are increasing their prices for vinyl albums two days after Valentine’s Day.
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“So, Universal, Warner (and likely Sony soon) are all raising their prices considerably over the next month,” Ottawa music store Vertigo Records shared on Instagram Wednesday afternoon.
“We always keep out prices low, but will have to adjust,” the store added. “The major labels need to get every last drop of blood from that stone. Sorry!”
In Cambridge, Ont., Millpond Records & Books also shared the news of the price increases, along with a screenshot of Universal’s old and new pricing sheet on individual vinyl albums and singles.
“A Valentine’s Day salute to Universal Music,” the small business wrote on Instagram. “Gotta love the fact that prices are going to be rising by upwards of 30% come Feb. 16. If you want new vinyl at good prices, buy soon.”
Some albums distributed by Universal are only seeing $1-$5 increases, but higher markups are also scheduled next month.
One record — artist and title not shown — currently listed for $23.38 will have a new price of $41 next month, an increase of 57%. Another listed for $29.90 will set you back at least $51, an increase of 58%.
“My guess is you’ll see most labels doing the same next month,” the store added.
The news comes on the heels of Ticketmaster’s ticketing and pricing fiascos last year.
In November, Ticketmaster had to call off the pre-sale of tickets for Taylor Swift’s forthcoming Eras Tour in the U.S. after many fans were unable to secure tickets.
And over the summer, Bruce Springsteen was hit by criticism of high ticket prices for his upcoming tour, with seats for The Boss’s show priced as high as $4,000-$5,000.
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