Album Sales Down In 2012

artist: Misc date: 10/04/2012 category: industry news
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Album Sales Down In 2012
Overall album sales are down in the US by 4.4% in the first 9 month of 2012 compared to the same period last year. On the plus side, digital album sales in the US are up by 15.3%, and have sold over 1 billion units for the first time over this period. Vinyl has also seen a dramatic 16.3% boost, but remain a niche format at 3.2 million units, according to Billboard. The loser so far this year is the CD which recently celebrated its 30th birthday. At the same time last year there had been 151.6 million albums sold on CD - now it's down to 129.7 million, which dragged down the overall album figures. It could have been worse. Adele's wildly successful album "21" is responsible for 4 million sales alone this year. The runner up is One Direction with "Up All Night". As for singles, Gotye's "Somebody That I Used To Know" remains the best seller with 6.5 million units. Only Carly Rae Jepsen and Fun have released singles that also surpassed 5 million sales. Of course, these figures don't factor in the impact of streaming services like Spotify. Before the year is out the industry will likely release figures to describe streaming's impact on overall music revenue, and could finally answer if streaming is a long term solution to declining music revenues. For now, it seems that digital music sales are leading the charge against a drop in CD sales. Have your buying habits changed this year? How do you think they might change in the future? Take the discussion to the comments.
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