18 January, 2007

The Hits Just Keep On ...

This story really hits home for me as I have been a part of the music and entertainment industry for nearly thirty years. I started in music distribution in the days of disco and 8-tracks. I witnessed the proliferation of the audio CD as we all transititioned away from vinyl LP's as the prime communication medium.
Music industry's got the blues: Global sales fell 3% in 2006 - USATODAY.com: "Worldwide online music sales nearly doubled in 2006 to about $2 billion, or 10% of all sales, but they failed to compensate for an overall decline in sales of CDs, the global music industry trade group said Wednesday in its 2007 Digital Music Report.

As a result, overall music sales fell about 3% in 2006, said The International Federation of the Phonographic Industry (IFPI) report.

'We don't have the holy grail of digital (online) offsetting the decline of CDs as yet,' IFPI Chairman John Kennedy said here after the release of the report."

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