British CD Sales – Drop 10% in 2007
Music fans the UK are continuing to abandon the buying of CDs, with sales down by 10% in the first half of 2007.
Figures compiled by the British Phonographic Industry show that 6.5m fewer albums have been sold this year compared with the same period in 2006.
Consumers failed to make up the shortfall online, with digital album sales increasing by just 2m.
The news comes after HMV announced its profits had halved and high-street record store Fopp shut its 81 outlets.
More than 700 staff lost their jobs as the retailer closed its doors last week, the latest victim of the sharp decline in CD sales.
The digital market continues to grow – with a 50% increase in digital single purchases in the first six months of the year, according to the BPI’s figures.
But downloads still only account for 10-20% of the overall music market, and that figure includes formats such as ringtones. The full article can be read here.
(+43 rating, 9 votes)
I know everyone is guilty of downloading music….but if you really like a band alot…..buy the damn album!
Bobbie Dooley they are not talking about illegal music downloading. What they mean is people are buying music but through the internet through websites like I-tunes.
ya….but albums are better then files…..so if your going to buy the music…..but the damn album not files….cuz I dont want it to turn that way in the future……When I buy something I like to actually own something….pretty soon nobody will have any possetions anymore…
These statistics are useless without knowing how many albums were released in the two time periods. I for one await the death of the music industry as it exists in its current form with baited breath.
I prefer the music industry not die, because then bands will profit less than they do now. Selling a single for a dollar makes no money, either. I prefer owning a cd, the art work, etc. It is something I can hold, and know that I can take it anywhere, and use it whenever. You buy an mp3, or even illegally download, if your computer fails, there goes your whole music collection.
I own 100s of albums on record, cd, and cassette.
By the way, analog is far better quality than mp3. Play an mp3 on a real stereo system, listen to how horrible it is.