Music Sales Boom but Albums Fizzle For '08


Sign in to view read count
Americans bought more music in 2008 than ever before, but album sales the music industry's main source of revenue dropped for a fourth year.

According to the Nielsen Co.'s year-end figures, music purchases CD, vinyl, cassette and digital purchases of entire albums (grouped together as total albums), plus digital track downloads, singles and music videos attained a new high of 1.5 billion, up 10.5% over 2007.

More than 70% of those transactions were digital track downloads, a record total of 1.07 billion that swamped 2007's previous high of 844.2 million by 27%. Last week's track downloads set a record of 47.7 million, and 71 songs exceeded 1 million downloads this year, compared with 41 last year (and just two in 2005). Track downloads outsold albums by a ratio of 2.5 to 1.

Total album sales dropped to 428.4 million, 14% fewer than in 2007, and have fallen 45% since 2000. Even combining album and track sales (by a formula that counts 10 track downloads as one album sale), the 535.4 million total is still down 8.5% from 2007 and more than 30% below 2000's physical album sales of 785.1 million.

Music purchases are “astronomically high," says Rob Sisco, Nielsen's president of music, “but it's a marketplace in transition from physical to digital." He sees promise in the rise of digital purchases of entire albums, which reached a high of 65.8 million in 2008. New albums by big acts bring the market up, he says, but “there hasn't been a steady stream of high-profile releases." Other '08 results:

Continue Reading...

This story appears courtesy of All About Jazz Publicity.
Copyright © 2021. All rights reserved.

For interview requests or more information contact .

Post a comment


Jazz News

All About Jazz needs your support

All About Jazz & Jazz Near You were built to promote jazz music: both recorded and live events. We rely primarily on venues, festivals and musicians to promote their events through our platform. With club closures, shelter in place and an uncertain future, we've pivoted our platform to collect, promote and broadcast livestream concerts to support our jazz musician friends. This is a significant but neccesary effort that will help musicians now, and in the future. You can help offset the cost of this essential undertaking by making a donation today. In return, we'll deliver an ad-free experience (which includes hiding the bottom right video ad). Thank you.

Get more of a good thing

Our weekly newsletter highlights our top stories and includes your local jazz events calendar.