The tech start-up is backed by a raft of well-known music producers and executives and has already raised £3.5m.
ElasticStage plans to bring on-demand production to vinyl records using its patent-pending technology, and digital printing and finishing for the record sleeves and labels will be key to the success of its proposition.
The firm has just opened a new 930sqm facility in north west London, which will be its hub for production and R&D.
Priest commented: “Having set up and run one of the first online printing businesses in 2003, I could immediately see the value of elasticStage’s idea.
“I am excited to offer elasticStage my advice, expertise and support in building its mass production manufacturing facilities. With my existing industry connections, I hope my involvement brings sector confidence that elasticStage can scale their revolution for the vinyl market”.
Printweek understands that Priest has also become an investor in the business.
Charles Grimsdale, who founded digital music download platform OD2 with musician Peter Gabriel, becomes non-executive chairman. Grimsdale is also the co-founder of venture capital firm Eden Ventures.
Paul Smith, the former head of international licensing at Spotify, has also joined the advisory board.
ElasticStage co-founders Steve Rhodes (CEO) and Werner Freistaetter (CTO)
ElasticStage co-founder and CEO Steve Rhodes said the business was confident about being able to achieve its ambitious goals for production on-demand, whether for individuals, artists or streaming services.
He said the London location had been chosen because the capital is a hub for tech, music and finance.
“It will serve as a showcase for the upcoming funding round and will go live next year with our first partners. Creators are the fastest growing sector in music and elasticStage will open up access to vinyl with no upfront cost, by producing hundreds of millions of units annually – a goal that is absolutely achievable with our advanced technology, highly skilled team and expert advisory board.”
The business plans to offer next-day turnaround times thanks to its combination of digital printing technology and a new way of pressing that uses an alternative material to PVC, with each record manufactured a “first-generation recording”. It has also announced that its exclusive production partner is part of investment giant Temasek Holdings Singapore and will be “instrumental” in scaling up capacity.
ElasticStage will be launching a Series A funding round “imminently” to support its next phase.
The so-called vinyl revival has seen record sales surge. Last year sales reached the highest level in more than three decades, with in excess of five million vinyl albums bought in the UK according to the British Phonographic Industry.
Priest and Solopress co-founder Andy Smith sold the Southend-on-Sea web-to-print firm to Germany’s Onlineprinters in the spring of 2017, with the duo subsequently stepping down two years later.
