Originally published: July 21, 2010
Last updated: July 21, 2010 - 11:55am
Of the some 100,000 albums released last year, 17,000 of them sold only 1 copy; more than 81,000 albums sold under 100 copies. In fact, just 1,300 albums sold over 10,000 copies, an astonishing figure given that these numbers combine physical and digital album sales. And for physical sales alone? Only 2% of new albums on Soundscan sold over 5,000 copies -- that's a skydiver's plummet from the golden era of the music industry. Physical sales of albums continues to plummet while digital singles sales grow.
Eric Garland, CEO of Big Champagne, says industry folks today are obsessed with "FFF numbers"--that is, an artist's friends, fans, and followers. "It's a race, but to what end?" he wonders.
Interestingly, it wasn't Apple that Garland viewed as the most important name in music, even though the company's iPods, iPhones, and iTunes indicate otherwise. "YouTube is increasingly the category killer," argued Garland. "When people ask me what is the biggest name in music in my opinion, they want me to say Apple. I usually answer: YouTube." Garland told audiences that if you actually look to where people are listening to music--not even just looking at videos--consumers are turning more and more to YouTube, which he calls the "largest catalog of on-demand music on the Internet." If only Google could make this service profitable, right?
- How Lady Gaga's One Billion YouTube Views Changes the Music Industry
- ITunes embraces 3-tier pricing, will remove anti-copy software
- After Lady Gaga's Amazon Success, Should All Albums Cost 99 Cents?
- Digital finally overtakes physical in US music market
- Pink Floyd wins battle with EMI over online sales
- Driven by Digital, Music Sales up in 2011
- Apple's Jobs calls on music industry to drop DRM
- A decade of iTunes singles killed the music industry
- Music Industry, Online Services Strike Deal
- Apple's iTunes grows to No. 2 U.S. music retailer
- Download biz has to change, or digital sales will be playing a swan song
- Buying Music From Anywhere and Selling It for Play on the Internet
- Apple joins forces with record labels
- The High Price of Amazon's Gaga Deal
- Amazon’s New Deal: Buy a CD and Get the Digital Album for Free