SunPress Vinyl has launched a campaign to raise money for the creation of vinyl records through Indiegogo’s equity crowdfunding platform operated in partnership with MicroVentures. SunPress Vinyl is seeking a minimum raise of $50,000 under Reg CF so anyone may invest. The offer includes some perks alongside the investment that
Contrary to what people anticipated, there has been a recent resurgence in the purchase of vinyl records. In 2016, the industry experienced a 25 year high in sales. Some consumers have shifted away from the digital and embraced old school physical music. SunPress Vinyl plans to capitalize on this recent trend that Deloitte predicts is will be a $1 billion market in 2017 generating 15% of all physical sales and 6% off all music revenues.
Founded is 2016, SunPress Vinyl is now one of 18 vinyl pressing facilities in the United States and one of 30 world wide. The company begin creating records in January 2017, and saw their cumulative sales surpass $100,000 by June.
SunPress Vinyl differentiates themselves with their turnaround time. Where most competitors typically take months to fulfill orders, SunPress is able to finish manufacture in as quick as six weeks. They can accomplish this while printing all of the records with the same machines used to print Bob Marley’s original records in the 197o’s for Studio One. This will make them the preferred option for many music labels.
On their crowdfunding page, SunPress Vinyls includes the description:
“In the small town of Opa-Locka, just north of Miami, Florida, vinyl pressing machines that once delivered the memorable music of artists like Bob Marley, Lee ‘Scratch’ Perry, Mary J. Blige, 50 Cent, and 2 Live Crew are coming back into production through SunPress Vinyl. Founded in 2016, SunPress is housed in the former Final Vinyl factory, which was founded in the 1970s by Jamaican Reggae pioneer and Producer, Joe Gibbs. Later, it became the main vinyl manufacturing facility for world-renowned reggae label Studio One, which is best known for producing Bob Marley’s early records.”
The start-up has also partnered with Tuff Gong International, the music label founded by Bob Marley. So far, the company has re-released the classic albums Exodus, Legend, Burnin’, and Catch a Fire. With the money that they earn from their crowdfunding campaign, SunPress Vinyl plans to reissue several more Bob Marley albums along with third-party releases brokered by Tuff Gong.
The money will also go towards achieving their future plans:
“SunPress’ long-term strategic plan includes the development of a music label specifically for issuing its own vinyl records and initiating vinyl record reissues and special editions.”
The crowdfunding campaign has a round size minimum of $50,000 and a maximum of $107,000, a minimum bid of $100 (perks kick in at $250), and will be open for around 1.5 months.
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