Music Industry On Life Support?
by HollywoodlandIn the 52 weeks ending Jan. 2, album sales fell 13% to 326.2 million units, and digital track sales managed only a 1% gain, to 1.17 billion. That hefty consumption of downloads helped offset overall music losses, which fell only 2.4%.
Piracy, vanishing record shops and decreasing shelf space in big-box stores continue to depress album sales, and the digital boom has been flattening. Only 13 albums sold more than 1 million copies in 2010, down from 22 in 2009.
Labels remain optimistic about digital’s future. More than one-fourth of albums sold last year were downloads.
What boomed in 2010? Vinyl. The throwback format grew 13%, with The Beatles‘ Abbey Road leading the charge. Consumers bought more vinyl albums in 2010 than any other year in SoundScan history. Fans bought 71% of vinyl albums in independent record stores.
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