Besides the volume knob this doesn’t have any moving parts. The “spinning” is made possible by embedding an e-ink screen (like those seen on a Kindle) into the record label. The end result is kind of an illusion, if you can look past the thicker record.
This could be a Bluetooth speaker or Personal Assistant (Alexa/Siri), and would be compact in size. The speaker is located in the base. The display could juggle artists and songs, but it would probably be easier to display the current app, such as Spotify or Apple Music. The metal spindle is pegged into a glass cover that overlays the display. E-ink displays don’t suffer burn-in so the spinning image can always be active when the device is. And lastly E-ink displays are available in full-color too.