advertisement
FYI

New Vinyl Pressing Plant Open For Business...In PEI

The format keeps growing and stands to gross more than $25 million by year-end.

New Vinyl Pressing Plant Open For Business...In PEI

By FYI Staff

Last year, Charlottetown entrepreneur Ghislaine Cormier and partner Gideon Banahene won $10,000 at the annual Dragon’s Contest in PEI’s capital city, and it helped fund Atlantic Canada’s first vinyl record plant that is now open for business.


Kaneshii Vinyl Press in PEI teamed up with Toronto’s Viryl Technologies to open a wholly automated vinyl pressing plant that runs on cloud-based software that can press 180 records an hour. The plant is set up to stamp 7, 10- and 12-inch discs in a variety of colours. Already, the company has received orders from the US, New Zealand, Australia, Finland and, of course, Canada.

advertisement

Jeff Brownlee at PLANT has the story, and Desiree Anstey at Journal Pioneer has the backstory.

According to the latest figures supplied by Nielsen Music Canada, new vinyl sales this year are up 26 percent to 747,500 copies, as compared to a 27 percent decline in CDs (albeit still selling an impressive six million copies) and a 20 percent decline in digital albums (to 4.5 million). The estimated retail value for new vinyl sales so far this year stands at $23 million.

advertisement
FYI

Fixing The News Business Means Learning To Think Differently (Guest Column)

Change is coming quickly to the news industry, and innovation has to come just as quickly.

This is the second part of a series of guest columnsseeking answers to the financial issues that have plagued Canadian news organizations.

My prescription for change is very clear. Stop trying to solve today's problems through yesterday's lens.

keep readingShow less
advertisement