Do you own both vinyl records and digital formats of the same albums?

In the "Music Industry Forum" group on LinkedIn, I conducted a brief survey. I asked one question: Do you own both vinyl records and digital formats of the same albums? The responses I received were quite surprising. They are here:

Yes, I have both formats (63%).

No, I prefer only vinyl (4%).

No, I prefer only digital (20%).

I don't own anything (14%).

This data is not representative because the response rate was low. Nevertheless, we can draw some conclusions from this data.

1. Collectors of both formats dominate: The largest group of respondents (63%) own both vinyl records and digital formats of the same albums. This suggests that most people value the diversity and flexibility offered by both formats. Owning both formats also indicates a higher value placed on collecting and a complete musical experience, which combines physical interaction with the medium and the convenience of digital access. This may stem from a desire to benefit from both the quality of sound and the ease with which music can be accessed. Here, there is room for blockchain technology and the Web3 world (musical NFTs).
2. Small group preferring only vinyl: Only 4% of respondents prefer vinyl records exclusively. This indicates that vinyl, despite its popularity among audiophiles and collectors, is not the dominant format among the general respondents. This might point to specific preferences and interests of this group, possibly associated with a love for traditional, analog sounds and the collectible value of vinyl records.
3. Preference for only the digital format: 20% of respondents prefer digital formats exclusively. This is understandable, considering the convenience and immediate availability of music in digital form, which allows for simply storage and playback on various devices. This technology can be particularly attractive to people leading a mobile lifestyle.
4. Lack of ownership of any formats: This is quite surprising to me. 14% of respondents do not own any music formats, neither physical nor digital. This may suggest that this group does not place importance on owning physical or digital copies of albums. Perhaps this group uses other music sources, such as streaming, or is simply not interested in owning music as a collecting hobby.

Summary

The data shows that most people value owning both vinyl records and digital formats of the same albums. This indicates the growing importance of the musical experience, which combines traditional and modern forms of consumption. Although vinyl still has its share of fans, digital music is gaining popularity due to its practicality and ease of use. Some respondents lack interest in owning albums in any form, which suggests that the future of music will increasingly rely on online availability and subscription models that offer access to large music libraries without the need for physical ownership. In this context, artists may not necessarily generate additional revenue from their work. It might only be within the framework of a paid digital file sales model using blockchain technology (musical NFTs).