Album sales have dipped out to their lowest level, this is the most time ever where sales have dropped that low in CD and Vinyl. The sales of albums have been in decline since 2010, as the digital sales and downloads began to overtake. It all started in 2010 where album sales dropped by 12%. In 2012 album sales dropped by 4% and then further dropped by 8% in 2013. Weekly sales for CDs dropped very hard, there were hardly any sales. Album sales have dropped because the illegal downloads and digital media is the new market leaders. They are the people who pass on music for free, as they believe that music should be free. The digital media has affected the sales of albums very hardly and there has been a very big impact on them. There has been a very big decline in CD sales.
My view:
I personally think that music companies will need to suggest a new way of making money because they will not be making money out of CD or album sales now because they are in decline. This means that they will have to come up with a new idea otherwise they will be completely in decline as the audience do not need to to get access to music any more. The audience have loads of ways of getting music now, they don't to go and buy CDs any more because they could get it for free off the internet. This is why I think the music institutions have to come up with a new way of making money, i think they could create sources like Spotify who give access to unlimited music, but the audience have to pay a online subscription for it.
No comments:
Post a Comment