Analysts Show Album Sales Suffered In 2008
Posted on: Thursday, 1 January 2009, 12:40 CST
Data issued on Wednesday shows that U.S. album sales slid for a seventh time in eight years in 2008 as growth in the digital arena slowed.
Retail data collected by tracking firm Nielsen SoundScan showed that album sales fell 14 percent to 428.4 million units during the 52-week period ended December 28.
Since 2007, music sales have seen a 15 percent drop, setting a new low since the firm began monitoring sales in 1991. Sales have plummeted 45 percent from the industry's high-water mark of 785.1 million units in 2000, due largely to Internet piracy and competition from other forms of entertainment such as video games.
The economic recession has also affected sales.
Digital downloads, through online retailers such as Apple Inc's iTunes store, have taken on greater importance to the industry, but the impressive growth of recent years is waning. Digital track sales rose 27 percent to a record 1.07 billion units, but the growth was slower than the 45 percent jump in 2007. Digital album sales rose 32 percent to 65.8 million units, after a 53 percent jump in 2007.
Ringtone sales also showed a decline, as purchases of the top 100 mastertone ringers slid 33 percent to 43.8 million units. Only rapper Lil Wayne's "Lollipop" broke the 2 million mark this year—where three did last year.
With 2.9 million copies of "Tha Carter III" sold, Lil Wayne also took honors for this year's top-selling album. Last year's No. 1 album was pop vocalist Josh Groban's "Noel" with 3.7 million copies.
In 2007, eight albums sold more than 2 million copies, but only three other albums sold more than 2 million copies this year: English rock band Coldplay's "Viva la Vida" and country singer Taylor Swift's "Fearless" each with about 2.1 million, and rocker Kid Rock's 2007 release "Rock'N'Roll Jesus" with 2 million.
Selling over 4 million copies, mostly of "Fearless" and her 2006 self-titled debut, Taylor Swift, 19, was the biggest artist of 2008. Anglo-Australian rock band AC/DC followed with 3.4 million copies, selling almost as many of their old albums as they did of their first release in more than eight years, "Black Ice," which was No. 5 with 1.9 million copies.
After 14 percent growth in 2007 and a 19 percent jump in 2006, overall music sales, including albums, singles, music video and digital tracks, rose 10.5 percent to 1.5 billion units.
---
On the Net:
Source: redOrbit Staff & Wire Reports
Related Articles
- David Cook's Self Titled Debut CD is Certified Platinum by the RIAA for Sales Exceeding 1 Million Units
- Because of Its Ability to Generate Higher Total Sales in the United States and Europe, Lucentis Will Earn Clinical Gold Standard Status By 2011 for the Treatment of Diabetic Retinopathy
- GOL Reports Growth in Internet Sales in 2007
- Itronics Reports 25 Percent Increase in 2007 Sales; Says 2008 Sales Prospects Are Excellent
- Tek-Tools Software Posts Fourth Consecutive Year of Double-Digit Revenue Growth
- Z Trim Holdings, Inc. Reports Increased Z Trim Sales for 2007 and Achievement of Significant Progress In Business Plan Implementation
- SYSCO Reports 8.7 Percent Sales Growth in Second Quarter and Diluted EPS of $0.33
- Security Video Camera Cabling Offers Double-Digit Cabling Growth Opportunity
- Double-Digit Earnings Growth About to End
- S2 Security Corporation Signs United Digital Technologies, LLC As Distribution Partner for S2 NetBox(TM) Technology
 |
 |
User Comments (0)
RSS Feeds