For the first time in seven years album sales are going in a positive direction according to the Nielsen Soundscan’s U.S. report. The The National Association of Recording Merchandisers (NARM) President Jin Donio stated, “This is certainly very welcome news for the music business given the rampant piracy the industry has faced in the past decade and continues to confront worldwide.” Overall music sales including purchases of albums, singles, music videos have increased by 8.5%.
The two areas which had the high percentage of growth were sales of digital albums and digital singles. Mr Donio commented on the sales of digital products, “The increase in digital album sales year over year has been particularly strong, with almost a third of albums sold being delivered in a digital format. Just this week, Eminem’s 2010 album Recovery became the first album to hit a million in digital sales, and is expected to be quickly followed by Adele’s 21, which is the top selling album of this year so far. On the physical front, the decline in CD sales has been stemmed dramatically from -18% in 2010 to -6% this year so far, with sales actually up about 1% in the second quarter of 2011. Vinyl continues its upward trajectory with a 41% jump from 2010.”
It’s been a long time coming, but the music industry is finally seeing some good news. According to a recent report, artists are selling more music than they have in seven years – and that’s great news for both fans and creators alike! After years of declining sales due to digital piracy, streaming services, and other factors, this new report shows that the tides may finally be turning in favor of musicians everywhere.
The report comes from BuzzAngle Music – an analytics firm dedicated to tracking changes within the music industry. In their analysis of 2018 year-end data from retailers like iTunes and Amazon Music, BuzzAngle found that total album sales had risen by 11% compared with 2017 figures. This marks the first increase since 2011 when physical album sales were still driving the majority of revenue for most major labels.
Though it might not seem like much on its own, this trend could signal bigger things ahead for the future of recorded music. With continued investment in streaming platforms and increased consumer engagement across all formats, there’s potential for even greater growth in 2019 and beyond. To find out what’s really behind these numbers – and what they mean for the future – keep reading below!
Overview Of Recent Trends
It has been a long road to recovery for the music industry, but recent trends are suggesting that it is finally on the upswing. The Recording Industry Association of America (RIAA) reported in early 2021 that revenue from recorded music had grown by 15 percent since 2020–marking the first time since 2014 that revenues have seen an increase.
As digital streaming continues to become more ubiquitous, people’s consumption habits have changed accordingly. In addition to making listening to music easier than ever before, streaming services offer fans greater access and convenience when purchasing their favorite songs and albums. This shift has allowed artists to earn money directly from fans rather than relying solely on record sales or radio plays.
Overall, these changes in technology and consumer behavior may be helping drive growth in the global music industry; as more options become available for consumers, they can purchase the music they want without having to worry about limited availability or expensive prices. With this trend continuing into 2022 and beyond, we should see even further growth in artist revenues over the coming years.
Factors Contributing To Increase In Music Sales
The increase in music sales is due to a number of factors that have come together to help support the industry. One major change has been the rise in digital streaming, which has made it easier than ever for fans to access their favorite songs and albums conveniently from home. This shift has allowed artists to gain more control over how they market and monetize their work, with direct-to-consumer platforms becoming increasingly popular among independent musicians.
Another factor contributing to growth in artist revenues is the emergence of subscription services such as Spotify Premium and Apple Music. Subscription plans offer users unlimited access to vast libraries of music at an affordable monthly cost, meaning that people can listen to whatever they want without having to worry about purchasing individual tracks or albums outright. For artists, this makes it possible to generate recurring income streams from listeners who are willing to pay for premium features like exclusive content.
In addition, both emerging technologies and new business models are playing a role in driving further growth in the global music industry. Digital downloads, online radio stations, and interactive media platforms have given consumers even more ways to discover and purchase new music–allowing them greater choice when selecting what type of content they want to consume. At the same time, innovative distribution strategies such as crowdfunding campaigns are giving independent musicians greater autonomy over their career paths by allowing them to finance projects on their own terms. By combining these trends with increased consumer demand for quality audio experiences, we should continue seeing positive results for those involved in creating music going forward.
Conclusion
In conclusion, it’s clear that the music industry is seeing a positive change in sales for the first time in seven years. This shift is likely due to multiple factors, from innovative streaming services such as Spotify and Apple Music, to artists actively engaging their fans through social media platforms like Instagram.
The increase in music sales can also be attributed to greater access people have to musical content around the world. Although physical album purchases are still declining, digital downloads and stream-based subscription services are becoming more popular than ever before. As technology continues to evolve and new generations of music lovers enter the market, this trend will only continue.
Overall, it’s clear that the music industry is undergoing a renaissance of sorts – one where artists are able to make money from their art once again. With an increased focus on promoting both old classics and fresh tracks online, there’s no doubt we’ll see further growth over the coming months and years. It’s exciting times indeed!
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