Monday, 6 February 2017

Digipak Cover 6: Music Consumerism in Last 5 Years

Since record sales started to be tracked in 1991 it has been confirmed that 2016 has been the worst year for record sales.

"CD sales continue to decline, moving just 40 million units in the first six months of 2016 (a decline of 11.6 percent compared to the same time period last year). Meanwhile, the vinyl collector’s market is still growing, up 11.4 percent by the same metric, but remains far smaller in terms of actual records: 6.2 million copies sold in the first half of the year."

Surprisingly the sale of digital albums from sites such as iTunes are actually decreasing fasters than the sale of CD's. The digital doweled era that started in 2003 seems to be coming to an end with streaming and illegal download taking over.

"In 2006 — years after Napster, and well into the iTunes era — record labels still reaped $9.4 billion from CD sales in the United States, more than the total sales revenue of the business today. Last year, CD sales stood at just $1.5 billion, a drop of 84 percent in a decade. And downloads, also once viewed as the industry’s savior, have now been falling for three consecutive years with no sign of recovery."

Since digital downloads and streaming were introduced it seems unlikely that they will ever make the same amount of money that the music industry sold when CD's were the main form of consumptions.

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