Unlike line level audio sources you connect to a stereo (DVD/CD players, tape decks, TV audio, minidisc, etc.), the output from a phono cartridge is MUCH lower [typically less than 6 mV], and requires an additional stage of amplification to bring it up to the same volume as the other sources you listen to through your stereo. This additional amp stage, the phono preamp, is built-in to most older receivers and integrated amps, allowing direct connection of a turntable. However, newer stereo equipment (including virtually all mini-systems and home theater units), have NO phono input. In order to utilize the inputs such units DO have (Aux, Tape, Line, Video, CD, etc.) to connect a turntable, you need to first pass the signal through an external phono preamp to amplify the weak signal from the cartridge up to line level. The same level increase is needed if you're connecting a turntable to a computer sound card's line input so you can make CD-Rs from LPs; again, the external phono preamp provides it.
WHAT IS RIAA EQUALIZATION?
Because of limitations in the LP recording process, an equalization curve must be applied to the music or other sonic content prior to it being cut onto vinyl, so as to reduce background noise and sibilance. Reversing this equalization effect (the RIAA curve) and restoring the music's original frequency response curve during playback is an important part of the phono preamp's job and differentiates it from other preamps, which usually provide gain but no other modification of the original sound quality. Proper RIAA re-equalization during playback is a must in faithfully producing the original musical content without coloration or distortion.