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Sunday, March 25, 2012

Digital Music Sales Increase, CD Sales Drop

A new study, conducted by NPD, indicated that the number of online music sales has grown up to 4% for the 2nd year in a row. At the same time, CD sales continued to fall.
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The research in question indicated that the number of people who prefer to purchase digital music had increased by 2%, making it 78 million American citizens. The results of the study bring into discussion the decline of physical music sales, which is an increasing concern for large record companies. The problem of those is that they unfortunately can’t (or don’t want to) tackle the issue.

The results of the study read that digital album sales increased around 20% up to 103 million. At the same time, CD sales fell around 6% to 225 million. As for the rest of the total, it’s made up mainly of digital single tracks, where ten tracks are regarded as one album. The media reports confirm that digital singles sales increased about 9% to 1.27 billion.

Meanwhile, the major players in the digital market are iTunes and Amazon. The users of those markets bought around 45 million songs, which is 14% more than they purchased in 2011. This made it an average of $49 spent per each Internet user, which represents a 6% increase compared to the last year.

When considering P2P networks, the research revealed that the number of downloaded tracks has dropped to 13%, down from 19% five years ago. This trend is expected to follow the same course within the year, because a lot of file-sharing services more or less willingly shutdown their gates after MegaUpload’s case.

Today the music-streaming industry is also developing rapidly: for example, services like Spotify and IHeartRadio are becoming extremely popular, and their usage increased up to 43% last year compared to 2009’s 29%.

In other words, everything points at the fact that the digital landscape is confidently becoming the consumers’ choice nowadays. At the same time, album sales become more and more obsolete. The truth that the music industry refuses to accept is that the music enthusiasts do prefer the online market over record labels for a while now. This isn’t a surprise for everyone else: instead of purchasing a whole CD for an average of 20$, you can just to spend $1 to buy your favorite song.

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