Tweet
Music Industry Continues To Struggle; CD Sales Down 13%
The sales of CDs declined heavily in 2006 -- nearly 13 percent while digital download sales continued to increase, but not fast enough to cover the drop in physical album sales.
The reports, provided by the Recording Industry Association of American (RIAA) on Tuesday (April 17), stated that overall music sales where down by 6.2 percent to just $11.51 billion.
More than 615 million CDs were shipped to retail last year, according to the RIAA, which resulted in a 12.8 percent drop from the previous year. The figures said that sales of CDs fell by 8.1 percent in 2005.
As proof by sales figures, the music industry continues to struggle as more and more consumers are turning to the purchase of digital songs rather than CDs, through online stores such as iTunes.
The industry -- dominated by four major record companies, Vivendi's Universal Music Group, Sony Corp and Bertelsmann's joint venture Sony BMG Music Entertainment, EMI Group and Warner Music Group -- also credits the decline from both CD and online piracy.
Although digital sales did not balance the lost of revenue for music companies, it did rise -- 60 percent in digital songs, while sales of digital albums more than doubled. Overall digital sales rose by 74.4 percent to $878 million.
Sales of digital music for use on mobile phones was also up -- 83.7% to $774.5 million.
Source: ballerstatus.net
The reports, provided by the Recording Industry Association of American (RIAA) on Tuesday (April 17), stated that overall music sales where down by 6.2 percent to just $11.51 billion.
More than 615 million CDs were shipped to retail last year, according to the RIAA, which resulted in a 12.8 percent drop from the previous year. The figures said that sales of CDs fell by 8.1 percent in 2005.
As proof by sales figures, the music industry continues to struggle as more and more consumers are turning to the purchase of digital songs rather than CDs, through online stores such as iTunes.
The industry -- dominated by four major record companies, Vivendi's Universal Music Group, Sony Corp and Bertelsmann's joint venture Sony BMG Music Entertainment, EMI Group and Warner Music Group -- also credits the decline from both CD and online piracy.
Although digital sales did not balance the lost of revenue for music companies, it did rise -- 60 percent in digital songs, while sales of digital albums more than doubled. Overall digital sales rose by 74.4 percent to $878 million.
Sales of digital music for use on mobile phones was also up -- 83.7% to $774.5 million.
Source: ballerstatus.net