Re-Tales

To borrow Lyric Hi-Fi owner Leonard Bellezza's words from last month's Re-Tales, the traditional audiophile customer base "is graying."

That doesn't mean the future is bleak—not necessarily. Many in the industry have hope for hi-fi's future. For that potential future to be realized, however, audio dealers must adapt. Interest in better sound seems to be rising. Consider vinyl's resurgence; regardless of your views on vinyl's ultimate fidelity, it's a big step up from the earlier fashion for MP3s and cheap earbuds. (There's good news on that front, too: Those earbuds morphed into Beats headphones, then Beats into good-quality headphones.

New York's Lyric Hi-Fi & Video is one of high-end audio's longest-standing and most legendary institutions. In a recent telephone conversation, Leonard Bellezza, Lyric's owner and president, confirmed what many in this industry have long heard rumored: Lyric is closing.

In Re-Tales and in Industry Update, I've written about some of the ways the pandemic has accelerated changes in the hi-fi business. Government-mandated safety measures, the absence of audio shows, and a marketplace that was already changing have combined to force companies to get creative about how they reach customers, both to sell products and to provide service.

A few established dealers have closed or are preparing to. Some can no longer afford inventory. Some have just retired. Others, though, report that 2020 was an extraordinarily good year.

Why is there so much separation between the professional audio and audiophile worlds? Is that separation by design, or even necessity? Is it naïve to believe that more crossover could benefit both sides?

Walter Swanbon has had a lot on his mind lately. Like many dealers, he's been busy adapting to changes, but the pandemic has also offered time for reflection.

The sense of hope I've been feeling may have started with those Sinatra swells, the on-hold music I heard when I called to interview the first audio dealer I talked to for this story. I wanted to know what's been happening with their businesses during the pandemic. Are there reasons for at least cautious optimism?

Access to musical information isn't guaranteed, whether it's limited by the resolution of a recording, your audio system, or an oppressive political regime. George Vatchnadze, concert pianist and dealer in high-end audio equipment, has experience with all three.