Archive for the ‘Music’ Category
News about the music industry is almost unfailingly grim, from plummeting profits to plunging sales figures. Between 2006 and 2007, overall sales revenue sank almost 20 percent.
Amid the bleak news of declines, however, some facets of the music industry’s sales are trending upward. Consumers purchased over 200 million more digital downloads in 2007 than the year before, while another medium’s sales are also climbing—vinyl records.
After ten consecutive years of declining sales figures, retailers sold over one million vinyl records in 2007, according to the Recording Industry Association of America, more than a 35 percent increase from the year before. While vinyl accounts for less than one percent of all recorded music sales, a medium many people considered long dead is actually on the rise. It’s being called the vinyl revival.