History in Five Songs Episode 367: How crazy was 1991?

All right, so this is episode 367.

I'm calling it How Crazy Was 1991? This was an idea, uh, from Patrick Snyder in Pittsburgh, so thank you very much, Patrick.

Um, so yeah, the, um, the idea here is he, he pointed out that it was something of an extraordinary year, and I've always remembered that, that narrative.

We're gonna talk about, uh, the s- the summary, the summary narrative at the end.

But I wanted to go through it and see just how productive 1991, and it was a very productive year.

And something, uh, might have to do with the fact that, um, you know, up here in Canada, in Toronto, I always considered the very first year for CDs to be 1990.

And I do remember, you know, I've mentioned this a bunch of times, but I remember standing there in Sam the Record Man, and it felt like the last vinyl that I was able to buy easily was Aerosmith Pump and Red Hot Chili Peppers Mother's Milk, um, both 1989, uh, albums.

So we've, we move into 1990, we move into 1991.

Now, we know that there was vinyl in 1990, and now that I'm putting all my stuff on Discogs, I'm, I'm seeing that, uh, you know, any vinyl released in 1990, uh, the prices for that are through the roof.

Uh, late, late period vinyl is, uh, is pretty expensive.

So, uh, and we know over in the, uh, over in Europe, uh, vinyl persisted for a year or two longer, uh, kind of thing, in a big way.

But I was also looking at the revenue numbers, and they kinda bear this out, uh, that this is sort of a big deal.

So the music, uh, business, uh, revenues in 1980 were 3.8 billion.

As we move through the 1980s, it doesn't really shift all that much, 3.8, 3.6, 3.6, 3.8, so maybe couple of recessionary years in there.

4.2, 4.6, 4.6, 5.6 in 1987.

Maybe you're starting to see, uh, you know, the first, uh, it's still, it's still a specialty product, but s- uh, uh, CDs are coming in, and also cassettes were a big deal, right? So cassettes rifled their way through this as well.

I call it the world's worst format, although, uh, people might say eight-tracks, [laughs] I suppose, are worse.

Um, but anyways, uh, 6.2, 6.5, so you see, you get a little bit of a, a rise, but not that much of a change.

In 1990, 6.5 moves to 7.5. 1991, the year we're gonna talk about, 8.2, and then 9.0, 9.9, 11 in 1994, 12.3 in 1995.

So you've got, you get a jump of about a billion every year as we move through the '90s.

And then famously, uh, people forget this, but it was a, it was a little bit of a recessionary period that follows after that.

I remember we had our, our business here in Toronto.

We were fine, uh, but I do, I just remember, uh, you know, uh, restraints and cutbacks and all this, a lot of griping, uh, in Ontario and Toronto.

So I do remember it being a recessionary year.

I remember, um, real estate prices were down through '96, '97, so, uh, you actually do see this in the numbers about the music industry.

All right, so this is episode 367.

I'm calling it How Crazy Was 1991? This was an idea, uh, from Patrick Snyder in Pittsburgh, so thank you very much, Patrick.

Um, so yeah, the, um, the idea here is he, he pointed out that it was something of an extraordinary year, and I've always remembered that, that narrative.

We're gonna talk about, uh, the s- the summary, the summary narrative at the end.

But I wanted to go through it and see just how productive 1991, and it was a very productive year.

And something, uh, might have to do with the fact that, um, you know, up here in Canada, in Toronto, I always considered the very first year for CDs to be 1990.

And I do remember, you know, I've mentioned this a bunch of times, but I remember standing there in Sam the Record Man, and it felt like the last vinyl that I was able to buy easily was Aerosmith Pump and Red Hot Chili Peppers Mother's Milk, um, both 1989, uh, albums.

So we've, we move into 1990, we move into 1991.

Now, we know that there was vinyl in 1990, and now that I'm putting all my stuff on Discogs, I'm, I'm seeing that, uh, you know, any vinyl released in 1990, uh, the prices for that are through the roof.

Uh, late, late period vinyl is, uh, is pretty expensive.

So, uh, and we know over in the, uh, over in Europe, uh, vinyl persisted for a year or two longer, uh, kind of thing, in a big way.

But I was also looking at the revenue numbers, and they kinda bear this out, uh, that this is sort of a big deal.

So the music, uh, business, uh, revenues in 1980 were 3.8 billion.

As we move through the 1980s, it doesn't really shift all that much, 3.8, 3.6, 3.6, 3.8, so maybe couple of recessionary years in there.

4.2, 4.6, 4.6, 5.6 in 1987.

Maybe you're starting to see, uh, you know, the first, uh, it's still, it's still a specialty product, but s- uh, uh, CDs are coming in, and also cassettes were a big deal, right? So cassettes rifled their way through this as well.

I call it the world's worst format, although, uh, people might say eight-tracks, [laughs] I suppose, are worse.

Um, but anyways, uh, 6.2, 6.5, so you see, you get a little bit of a, a rise, but not that much of a change.

In 1990, 6.5 moves to 7.5. 1991, the year we're gonna talk about, 8.2, and then 9.0, 9.9, 11 in 1994, 12.3 in 1995.

So you've got, you get a jump of about a billion every year as we move through the '90s.

And then famously, uh, people forget this, but it was a, it was a little bit of a recessionary period that follows after that.

I remember we had our, our business here in Toronto.

We were fine, uh, but I do, I just remember, uh, you know, uh, restraints and cutbacks and all this, a lot of griping, uh, in Ontario and Toronto.

So I do remember it being a recessionary year.

I remember, um, real estate prices were down through '96, '97, so, uh, you actually do see this in the numbers about the music industry.