The company behind a brand new vinyl record pressing plant in Glasgow has announced a crowdfunding campaign in a bid to raise £1.75m towards construction costs.
Rockvinyl, which is scheduled to open for business in spring 2024, is looking to raise £1.75m from vinyl record aficionados and the investing public in a public share issue.
The start-up has already secured a 7,000 square-foot modern energy efficient industrial building in the East End of Glasgow to create the city’s first ever pressing plant.
It would be the second in Scotland after the Sea Bass Vinyl plant in East Lothian which opened in November.
The proceeds from the share issue will be applied to financing the capital costs associated with the construction of the company’s three AD12 vinyl pressing machines and infrastructure costs associated with the installation.
The pressing machines have been constructed by Pheenix Alpha in Sweden and are due for delivery in early spring.
Funds will also be used for employing pressing staff and finishing staff who will be trained by specialist consultants in vinyl pressing.
It is anticipated that Rockvinyl will begin taking orders from late spring and pressing from early summer 2024.
The plant has a target run of 60,000 records per month when up and running, offering fair prices, quick turnarounds, and optimised production lead times.
In recent years the demand for vinyl has increased significantly, with a resurgence in demand for the product.
David Brady, a former graphic designer and print specialist, will take the helm as managing director of Rockvinyl, supported by an experienced board of non-executive directors that includes Mark Mackie, CEO of Regular Music; Mark Wilson former band manager of artists including Orange Juice, The Bluebells and Trashcan Sinatras; and experienced investors, David Low, Peter McGowan and Denis Kinane, medical academic who owns and leads clinical and medical diagnostic businesses globally.
Rockvinyl has already gathered industry support with Simple Minds frontman, Jim Kerr who said: “I am delighted to hear about some great news from Glasgow in regard to the music industry.
“People know that for the last thirty, forty years Glasgow has produced some amazing music, some amazing labels, amazing bands, venues and events but finally Glasgow is going to have its own vinyl pressing plant. Rockvinyl is the missing piece of the jigsaw.”
Mr Brady said: “We are extremely excited to announce our Rockvinyl crowdfunder and to begin pressing vinyl in our Glasgow pressing plant later this year.
“2023 was an incredible year for vinyl record sales, with the growing global demand showing little sign of letting up.
“In addition to working with global record companies, well known independent labels and artists, we are very much looking forward to giving more breakthrough artists the chance to monetise their music, many for the first time, through vinyl records.”
The crowdfunder will open on February 19 with shares priced at £5.
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