“Music industry must change the record”June 4, 2009
In the last quarter of 2008, album sales in the UK were – wait for it – 0.9% up on the previous year, when the economy contracted by 1.5%. And UK royalties for songwriters rose 8% in 2008. Recession? What recession? Overall album sales, which some had predicted would collapse by more than 10% in 2008, fell by only 3.25%, while digital albums rose by 65%. And the singles market? Why, 2008 was the biggest year on record in terms of units sold across all formats…Indeed, if there had been no publicity about illegal downloads then, on the published evidence, the music industry is one that has been doing remarkably well during the recession.
He also touches on a number of other points, such as the industry’s efforts to extend copyright terms and that innovation in music marketing and sales seems to be almost entirely from outside the music industry, namechecking Spotify and Nokia. Read the full article here.
Image: It’s those home-burned CDs again, ready for disposal by Flickr user Trevor Coultart, reposted here under its Creative Commons license.