Having recently made a comeback to LPs and turntables (after a 27 year hiatus), I've rediscovered the uncontested beauty of reproduced music. During the course of previous 27 years or so, I was listening to music via digital sources (CDs, DVDs, WAV, AIFF, FLAC, MP3 files). I was building a fairly high end digital stereo system, upgrading components (CD players, DACs, digital transports), configuring, tweaking and fine tuning my digital playback.
Then, on a whim, suddenly decided to go and get me a turntable (I sold my old Thorens in 1989). I was sure that my new turntable is going to sound charming, quaint, nostalgic, 'warm', but definitely inferior to my mighty digital system. Boy was I in for a huge surprise!
My analog rig now beats my digital system by a country mile! And my analog system is barely entry-level audiophile grade. Be that as it may, I now started mulling over why did such obviously superior medium (LPs), lose to digital discs etc. Here is the 'explanation' I came up with (and you'll tell me if I'm way off or maybe on the right track):
1. Profit margins #1 -- as music industry ballooned in the '60s and '70s, initial passion and curiosity gave way to cold heartless business concerns. Simply put, music publishing became all about the bottom line. And I'm assuming that, all things being equal, corporations can squeeze higher margins from selling CDs and downloads and streaming subscriptions than they can from selling LPs. So that would be one reason why they came up with that bullshit slogan "perfect sound forever" and bullied the general public to switch to CDs.
2. Profit margins #2 -- (yes, it's all about the bottom line). As consumers started getting better and better turntables in order to enjoy the hi fi recordings that popular acts like Pink Floyd, Supertramp, Steely Dan, Mike Oldfield etc. were releasing, they started also getting pickier. Back in the early days of music industry, when most people were using cheap crappy turntables sitting on top of their radios, high fidelity wasn't at the top of their minds. But by the '70s (and especially going into the '80s), more and more people started getting very selective with their listening. Meaning, people would go to the record store, buy and LP, take it home, and then if the LP wasn't in perfect shape (a bit warped, or having a bit of a surface noise etc.), the consumers would promptly return the record. Once a sealed record is opened, it cannot be resold for a full price, and the manufacturers were not too keen on taking returns, so record stores realized that selling LPs is a finicky business. That's why they eagerly embraced CDs, because chances that something might be wrong with a CD are infinitesimally smaller than chances that something might be wrong with an LP.
These two forces contributed to the demise of vinyl. Luckily, we're now slowly getting back to our senses and are reclaiming our lives by turning our attention to the analog sound. That's a reason for rejoicing, and we need to make sure that the sleazy snake oil salesmen tactics don't bite us again, like they did thirty years ago. Music must come first, and only then corporate profitability and all that jazz.