“Digital music should overtake CDs in the US for the first time next year, Strategy Analytics said in a new study. It expected CDs to continue dropping a steep 40 percent from $3.8 billion in revenue for 2010 to just $2.7 billion in 2012. Digital, led mostly by iTunes, would keep growing and just edge past the physical medium to hit $2.8 billion.”
“Apple’s iTunes policies meant that direct downloads would still rule by 2015, with singles making up 39 percent of digital music, and 32 percent representing albums. Subscriptions like Rhapsody or the Zune Pass would still be the minority at 14 percent, while an upcoming Spotify US launch and other possible deals would carve out another 14 percent for free, ad-sponsored music. Labels had to consider subscriptions and other unlimited approaches if they hoped to see revenue grow, Strategy Analytics said.”
“Industry organizations such as the RIAA in the US and the worldwide IFPI have regularly said the drops in music revenue are only due to piracy. However, it’s also believed some of the drop is due to the decline of the album format. Much of the industry’s peak in the 1990s was credited both to stronger whole albums in some cases as well as the frequent necessity to buy a whole album at $15 to $20, even when only one or two songs were interesting.”
- Source: Electronisa
I’m a young guy who grew up in the digital media age. Infact, I was 13 years old when Napster came on to the scene. Even still, I love CD’s. Maybe I’m just an old school guy, but seeing CD’s go away and books go away to be replaced by digital copies certainly makes it easier to store and carry more content with you, but you also lose the value in the product as there’s nothing tangible.
I must admit though, the music industry pissed me off in the 90s as it did everyone else when record labels and recording artists were getting rich selling consumers albums that the label and artists’ knew only had 2 or 3 good tracks. But then they forced us to $15 – $20 for the whole album.
I am glad those days are over.
So in that regard, I openly welcome the end of the Compact Disc!
Image Source: Gadgetcraze