The Effects of Digital on the Music Industry
06 Dec 2014
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Here are some interesting numbers from the US music industry as more and more consumers move from physical to digital goods.
- Between 2001 and 2012, sales in record stores declined by 76% as people moved away from buying CDs.
- Total CD sales fell more than 50% between 2000 and 2009.
- In January 2012, sales of digital music passed those of physical product for the first time.
- In 1999, it was virtually impossible to purchase a single song. You either had to buy a single (which featured a minimum of two songs) or a full album. Thanks to services like iTunes, sales of single tracks in 2009 totaled 1.2 billion.