Greenyl, 3 million investment for the startup that produces “sustainable” vinyl
[ad_1]
Music business observers have been keeping an eye on two trends for the past few years: on the one hand the return to vinyl, a niche segment of discography but growing exponentially in the era of streaming reproducibility, on the other the sustainability of productions. There is no live festival, among those scheduled after the pandemic, that does not work to reduce emissions and waste. In San Giuliano Milanese someone thought of putting the two concepts together: this is how Greenyl was born, a startup that produces vinyl records using a 100% recyclable polymeric compound.
And, as in the most beautiful stories that have to do with music, the “band” is set up by two old high school friends: Luca Terenzi and Ilich Rausa. The former has a family business in San Giuliano, Terenzi Srl which produces plastic materials with 60 employees and a turnover of 6 million. The second is the owner of Rude Records, an Assago record label specializing in the production of international artists, with an eye to hard & heavy. «We’ve known each other for a lifetime», says Rausa, «and we’ve been saying for some time that it would be nice to start a business together that had to do with music. Vinyl and sustainability seemed to us the best choice in this particular historical moment».
Beyond feelings, which are always the spice of life, it is also the numbers that suggest certain moves. Vinyl, in a global record market worth 26.2 billion dollars (Ippi data), is a 1.98 billion niche. The projections for 2030, however, refer to a business of 4.12 billion, considering the annual growth rate of
9.57% from 2023 to 2023. There is a growing demand for «prints». According to Making Vinyl, the annual record production conference, an estimated 180 million records were produced in 2022. The problem is that vinyl chloride is a pollutant and extremely dangerous when inhaled and is considered carcinogenic. Prolonged exposure to vinyl chloride causes lymphomas, leukemias, and brain, liver, and lung cancers. To counteract the CO2 emissions released by vinyl production, it would be necessary to plant 6 million trees every year. Enough to cover an area 35 times larger than Central Park in New York.
«Hence the idea of making the first 100% sustainable vinyls», continues Rausa. The startup Greenyl is a joint venture owned 75% by Terenzi and 25% by Rude. Each Greenyl vinyl is the result of a 100% ecological process, without PVC and with 80% of energy coming from solar panels. A 99 percent certified recycled plastic compound. «In the first phase of experimentation», says Rausa, «we only printed albums by Rude, but starting from next week we have scheduled meetings with all the majors». The official debut of the brand takes place on the occasion of the first date of I-Days Milano 2023. There is an investment of 3 million over three years on the project which aims to achieve a turnover of 4.8 million euros in 2024. Up to to 21.9 million in 2027, intercepting the hype for vinyl on the market and the appeal of the green among those who make music or enjoy music. Not insignificant detail: also making new hires.
[ad_2]
Source link
