Re-Tales

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.

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.

Stereophile readers are surely aware of the tariff situation under the current administration—a situation that has changed rapidly, often daily. The tariff penalty—and arguably even more, the lack of economic stability resulting from tariff volatility—has a major impact on buying, pricing, and corporate strategy in the hi-fi industry. Hi-fi is just one of many industries experiencing the impacts of increased costs and uncertainty.

There's one phrase a Ferrari dealer never hears from a potential customer: "Ferrari? What's a Ferrari?" Marques such as Ferrari, Lamborghini, and Maserati are so embedded in mainstream culture that their dealers never have to introduce an unfamiliar but exorbitantly expensive set of wheels to their prospects.