Think Fast! Records to Release only Vinyl, Digital

Lending more support to a vinyl resurgence, punk rock/hardcore label Think Fast! Records has announced that starting in mid-2009, they will stop putting out CDs and focus solely on vinyl and digital releases.

Here’s the statement released on their website:

“In a sense, the music industry has almost abruptly come full circle, especially in the punk rock and hardcore scenes. Some of you, if not most, may be too young to remember that there was a time in punk/hardcore that the only physical copies of a record you could buy were on vinyl and maybe cassettes. Then CDs came along. It was an exciting time with this new revolutionary music technology. Think Fast! Records is here to tell you, that the music technology that we know as CDs is, in 2009, borderline obsolete.”

Baring any unforeseen opportunities that would warrant a CD release, Think Fast! Records is announcing that starting mid-2009 (after a couple of upcoming releases that are already finalized and will be announced soon!) we will stop all production of CD releases on the label. Releases in mid-2009 and onward will be available on vinyl and digital download formats only, with an instant free digital download with all vinyl purchases.

With this shift in the industry, we were tossing around the idea of turning into a “digital-only label”. While we admire anyone who was forward-thinking enough to do just that, we also feel that it is very important to the artists we work with and the people who listen to these bands to not lose sight of the importance of holding a physical copy of a record in our hands. The artwork, lyrics, and substance of the physical product is essential.

Let’s face it, CDs are dead. The digital world has taken over. Our new effort will give Think Fast! Records (and we believe many other labels who are eventually going to follow this model) an opportunity to offer more for our bands and their fans including more vinyl, more merchandise, and less wasted on CDs that the world is quickly losing interest in.”

OK guys, CDs aren’t completely dead, but they are holding on for dear life. According to the International Herald Tribune, physical sales of CDs dropped more than 13% to $15.9 billion by mid-2008 while downloaded songs rose 34% to $2.9 billion.

In addition, 1.88 million vinyl albums were purchased in 2008, which is higher than any sales record since 2000 when 1.5 million were sold (Neilsen SoundScan).

Looks like Think Fast! Records is on to something here. It certainly is hard to deny that vinyl offers better quality sound than any CD or MP3. Plus, a lot of artists (Portishead and Radiohead, for example) have released recent records on vinyl with the option for buyers snag a digital download later free of charge. Seems like CDs are no longer a requirement in the equation.

Audiophiles unite! – Vinyl is making its most valiant stand.

What you think about vinyl making the switch from throwback to comeback? Should other record labels make a similar move?