Transactions are up over 2008, but digital growth slows to 2%
Michael Jackson
Credit: AP
What’s the music industry going to do now? Not only did CD sales continue their inexorable slide toward extinction in 2009, digital growth—once hailed as the savior of music sales—slowed in 2009.
The good news, if there is any, is that music “transactions” increased in 2009, despite the slow down. Overall transactions—sales of tracks and albums in both physical and digital forms—amounted to 1.55 billion units in the U.S., up 2.1 % over 2008, according to Billboard. But the rate of growth trickled to 2.1%, down from 11% in 2008.
Continuing to look on the “bright side,” album sales continued to decline in the double digits, but last year the slip was 12.7%, slightly less than the 14.4 decline in 2008. And vinyl continued to surge, surpassing the 2 million mark in sales. Despite increased turntable sales and collectors’ delight, such an increase is hardly going to pull the industry out of its doldrums.
Interestingly, catalog albums outperformed current albums, although both still declined from 2008’s level, despite strong catalog sales this year for both Michael Jackson and the Beatles.
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About This Blog
Melinda Newman is the former West Coast Bureau Chief for Billboard Magazine with more than 15 years of experience in the music industry. She covers music and entertainment for the Los Angeles Times, the Washington Post, Associated Press, MSN, AOL and other outlets. Recent interviews include Taylor Swift, Pink, Brad Paisley, Foo Fighters, Jonas Bros. and Snow Patrol.
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Login or create a HitFix account Login SignupLucasdefender Sales are plummeting because hardly anything played on popular radio sounds fresh or from unique individuals at all. Mainstream radion sounds like it is ALL being created by like the same 5 people over and over.
January 7, 2010 at 4:14PM EST Reply to CommentThe perspective of 5 people is hardly going to stimulate the billions of people listening. Especially if the listeners sense it is not genuine but rather manipulative and formulaic.
I guess I'm kinda grumpy today.....
mike crap + Lady Ga Ga = big bucks
March 27, 2010 at 4:58AM EST Reply to Comment