Overall revenue declined again as sales of digital media failed to recoup the losses of falling CD sales.
For the year 2006, the RIAA reports that manufacturers shipped 553.2 million units which included all physical media like CDs, singles and vinyl albums as well as music videos. That number is a 13% decline from last year and almost a 50% decline since 2000.
Digital sales however, continue to be a huge success for the music industry. The RIAA reported a 27.6% increase in sales from 2005, and if you were to remove mobile downloads such as ringtones, the increase is a hefty 63%.
Although those numbers are nowhere near the growth of 166% from 2004 to 2005, the industry is still very pleased with the numbers.
"Today's music marketplace has challenges but it also offers reason for hope and optimism," said RIAA chairman and CEO Mitch Bainwol. "The appetite for music is as strong as ever and a digital marketplace now worth nearly $2 billion has emerged virtually overnight."
Source:
Arstechnica
Written by: Andre Yoskowitz @ 18 Apr 2007 18:47
