In the not-so-surprising or earth-shaking category falls news this week that CD sales have plummeted 20 percent from the same time last year. This does represent a sharp decline in the seven-year battle the music industry has been fighting on technology, but it should come as no surprise as more and more albums and singles become available via distributors such as iTunes, Rhapsody and so on.
Nielson Soundscan, which released the data, has pretty much acted as the white flag, with it’s constant butt-battering info. The information tracker has also reported two of the lowest selling #1 albums in its 16 year history so far this year. Chris Daughtry, that oh-so-lovable “American Idol” runner-up topped the charts with a not-so-staggering 65,000 copies sold in it’s first week. In comparison N Sync’s No Strings Attached album sold some 2.5 million copies its first week back in 2000 and even just a few years ago the top selling album of the year was 50 Cent’s Massacre with some 872,000 copies sold.
Another detrimental factor has also been the quick and swift closing of a number of music retail stores throughout the country numbering somewhere around 800 so far in the past year. Among those closings were the 89 Tower Record stores that evaporated following the demise and bankruptcy of that retail chain.
The music companies had been banking on the sale of digital downloads to help resurrect the industry, and while sales have risen 54 percent since the same time last year, at 173.4 million , according to Nielsen Soundscan, this isn’t nearly enough to offset the 20 percent decline in CD sales.
If the music industry wants to, it can take solace in the fact that they are hardly alone on the battle against piracy and declining sales. The film, TV and publishing industries have also been affected. While the former two have seen illegal downloading steal millions upon millions of dollars, the latter can’t keep up with the ability the internet has to provide information at a much more rapid and timely pace, while being unable to provide as high a return on advertisements.
