From the past few years and from the past blogs of mine, I have talked about how music sales have dropped due to free downloading markets. There is finally some good news in the music industry. According to the Kings of A&R webpage, consumers are starting to buy music again. On the Market Watch page from the Wall Street Journal, CD buyers have increased by 2% compared to the 78 million from last year. I believe that this is great news because it felt like I was the only one who still bought CDs. This is also great because CDs have a better listening quality than MP3s. Some people predicted that CDs would be obsolete but people still like the CD format familiarity.
Paid downloads have also increased in sales. Market Watch states that internet download music sales have increased 45% in 2011. And on the other hand, P2P file sharing has decreased 13% from last year. The music industry is offering more music outlets like Spotify and Pandora so consumers will not have to steal music or share hard drives. On Mashable’s webpage, it states that after Limewire was shut down, file sharing has decreased in the past year. The Market Watch also states that in the UK, they have made music file sharing illegal and people will be fined as if it was fraud or human trafficking.
The music industry is still in the rough end, but it is shedding light on sale increases. This gives me hope for my business in the music business. Like Adele or Katy Perry or Kanye West, I want to give the consumer what they paid for, which is good quality music. With that being said, I want to set goals and check statistics on how much money I’m making from CDs and artists coming to record at my studio.
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