“Your record collection defines who you are; your book collection defines who you want to be.” — Will Page
When e-books were first introduced in 2007 (Amazon’s Kindle followed by Barnes & Noble’s Nook in 2009, and Apple’s iPad in 2010), people were loudly ringing the death knell for printed books. Digital devices had convenience and portability, and digital books could be instantly downloaded and consumed. Why would anyone choose to carry around or deal with a cumbersome printed book, or go to a bookstore, or have it delivered days later by Amazon, when 200 books could be held on a lightweight digital device, such as the original 1st Generation Kindle, and read immediately?
With the added decline of CDs and DVDs, the dominoes quickly fell; the 642-store Borders chain filed for bankruptcy in 2011, and Barnes & Noble closed its flagship store in early 2014 and separated out its Nook division. By 2018, Barnes & Noble had closed 400 stores.
Fast forward to 2023, when Barnes & Noble opened 30 new stores, and to 2024, when it opened 57 new stores (more than the total it opened between 2009 and 2019). It recently announced it would be opening an additional 60 stores in 2025.
Incredibly, physical books now outsell digital books 4 to 1. What changed?
It seems that even younger readers have come to prefer the tactile experience of holding a physical book and being able to easily navigate through pages, and see an advantage in retaining information and focusing when reading on paper rather than on digital screens. Kids and teenagers now gather at bookstores after school, as they have come to see them as safe spaces, and regularly show off their books on BookTok. What lessons can the music business learn from what happened with the book business?
Let’s look at the arc of recorded music. Music formats went from vinyl to 8-track and cassette to DAT and CD. With the introduction of digital file sharing and downloads with Napster in 1999, and streaming music starting with Rhapsody in 2001 and then Spotify in 2009, it seemed that physical records were destined for the wastebin of history (and like so many others, I foolishly gave away or sold for peanuts my vinyl and CD collections). Digital music streaming posed the question of why anyone would need to “own” music when it could be listened to immediately on demand from a limitless library of virtually all music ever recorded, literally at one’s fingertips, from any location.
The record business followed a pattern similar to that of the book business. Major labels sold their vinyl pressing plants and let go of their manufacturing employees, and many of the pressing machines were sold for scrap (Bertelsmann alone reportedly scrapped 150 machines). In 2006, record store chain Tower Records closed all of its 89 U.S. stores and filed for bankruptcy, as did Sam Goody (which at one point had approximately 800 U.S. locations).
Streaming took over completely once the industry fully embraced it, and it now represents about 90% of all music consumption.
Just like printed books, vinyl albums have, incredibly, made an enormous comeback, with sales increasing for 18 straight years and representing U.S. sales of over $1.4 billion in 2024 (and predicted to be over $3.5 billion by 2033). What’s the throughline?
Simply put, human beings are built to socialize and interact with each other and “things” in person in real life, not online — and it’s finally catching up with us. People desperately need the slowed-down, tactile interactions that have been largely absent, particularly amongst Gen Z, who have grown up predominantly in the fast-moving digital world. Although there is clearly enormous benefit to people connecting and interacting globally via the web and social media, there are also significant downsides: isolation, echo chambers, addictions, social comparisons, loneliness, depression, self-harm and even suicide have risen significantly in the digital age (as have mass shootings). Are physical locations the antidote?
Bookstores and record stores are part of a breed of what are called “third spaces”, a term originally created in the 1980s by sociologist Ray Oldenburg. Third spaces refer to “a physical location other than work or home where there’s little to or no financial barrier to entry and where conversation is the primary activity.” As Barnes & Noble stated in its recent press release, “Our stores have become popular social spots.”
In a 2022 article in The Atlantic, Allie Conti described third spaces as “physical spaces for serendipitous, productivity-free conversation” which “incentivize lingering”, where one can learn “the art of hanging out,” “mingle and make small talk with strangers” and where there is always “the possibility of a wildly unexpected spontaneous encounter.”
However, with people frequently spending their leisure time in solitude in front of their personal screens at home, consuming digital media (movie theater attendance is on the decline as well), “the simple act of spending time with new people can be an unnecessarily complex challenge.” Young people will have to learn new skills and flex new muscles for third spaces to thrive. For example, according to one study, almost half of men aged 18-25 have never approached a woman in person to ask for a date. Kathy Giuffre, a professor at Colorado College, says “socializing is a learned skill,” and “a world made up of atomized, physically isolated people is a world without a true shared reality — which is a recipe for civic disengagement, misinformation, and perhaps even political extremism.”
Bookstores and record stores also offer a way to be around like-minded people in real life who have similar interests, creating the possibility of forming new bonds. Many famous musicians credit their time working in record stores as having given them a musical education they wouldn’t have otherwise received (and in some cases, it’s where they actually met their future band members). Keith Richards, Axl Rose, Slash, Iggy Pop, Dave Grohl, Rivers Cuomo, Jeff Tweedy, Nels Cline, Aimee Mann, Nikki Sixx, Nelly Furtado and Peter Buck are but a few, and many have cited musical suggestions made by record store clerks as leading them to what became their favorite music. One could argue that record stores might actually be better “third places” than bookstores because music is always playing, clerks are knowledgeable music fans themselves, and customers are regularly chatting and interacting.
The rebirth and growth of record stores beyond Record Store Day has already begun. Rough Trade recently tripled the size of their store in New York City’s Rockefeller Center, and Waterloo Records was recently purchased from its founders by new owners who plan to relocate and expand it. Vinyl record and high-end equipment retailer Supervinyl in Los Angeles has become a “go-to” destination for music aficionados and artists alike. Innersleeves, a local independent record store in the Hamptons, recently doubled the size of its physical space and even added a small stage for musical performances. Tower Records has 80 locations in Japan. And “vinyl listening bars” built with expensive high-end sound systems and curated musical collections inspired by bars in Japan have been opening up in major cities across the U.S.
If U.S. record store chains return as well, they’d be smart to take a page out of Barnes & Noble’s playbook when it comes to the physical design of its stores. The manager of each B&N store is given a free hand (even including how the B&N logo appears) to make it feel more like a local independent bookstore with localized aesthetics rather than an invading mass chain that looks exactly the same in all locations. The goal is to “create a more intimate, community-focused, books-first experience.” And many of the new stores even have a B&N Café, which record stores could adopt to emulate the “coffee house” circuit where many musicians of the ‘60s and ‘70s launched their careers and built local fan bases. As streaming music levels off and consumer patterns change, vinyl records, record stores and listening bars as “third places” could be a boon to the physical record business — provided our industry truly embraces the big opportunity which is staring it in the face (“AlbumTok,” anyone)?
Fred Goldring is an entrepreneur, entertainment lawyer and co-founder of Pressing Business, a vinyl record and CD manufacturer, and record labels Flatiron Recordings and Label 51.