Friday, January 04, 2008
I've read now for a few days that album sales were down in 2007, making it sound like the music industry took a hard financial hit in the year. They aren't telling the full story. No longer are album sales the only form for sales in the music industry. Albums, digital single downloads, digital album downloads, dgital video downloads, ringtones... ok you get the point.
With a little research through a few news articles, here is the real deal.
2007 was an awesome year for music, with total sales up 14%, a 1.35 billion dollar industry. The album numbers did fall drastically, but thats due to the other sales of digital formats going up.
The headline on the article January 4, 2008 New York Times reads: "U.S. Album Sales Fell 9.5%"... the article should read: Music "Sales Up 14%, Albums down 9.5%"