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Artists Monetize Music Despite Falling Sales

July 7, 2010 5:49 PM | Interesting Stuff | Comments (0)

Keith Caulfield, Billboard chart analyst said, “With so many different options in terms of how consumers obtain and experience music, albums aren't the only game in town anymore…Because the album was the dominant format for decades, people became accustomed to quoting album sales as an indicator of how well the music industry was faring.”

The theory goes that people will be loyal to someone who gives them something for free.

Albums sale continue to fall. According to Nielsen SoundScan, consumers bought 148.4 million albums through June 27 down 11% from the 166 million sold to this point a year ago. Digital sales are on a steady growth streak since 2004. Sales this year is almost equal to last year’s.

"In digital, iTunes is king, and nobody's talking about a new iPod," Caulfield says. "Apple's expanded to iPhones, iTouches and iPads, and music is a slice of a larger picture."

Need You Now of Lady Antebellum leads the album pack this year with 2.3 million copies sold in 22 weeks. Veteran pop-music analyst Paul Grein said, “The title track is a perfect single, at that place where pop, country and adult contemporary meet, it will be the record to beat at the Grammy Awards."

Justin Bieber's My World 2.0 is second, trailed by Sade's Soldier of Love and Lady Gaga's The Fame. Eminem's Recovery, will move into fifth place with second-week sales projected to push his total past 1 million.

In several of the year's biggest-selling songs, hip hop plays a leading role. Top songs so far, in descending order: Train's Hey, Soul Sister, Black Eyed Peas' Imma Be, Lady Antebellum's Need You Now, Ke$ha's TiK ToK and Usher's OMG.


 

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