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U.S. Album Sales Slightly Positive for 2004

Posted By Barry Ritholtz On December 31, 2004 @ 2:47 pm In Music | Comments Disabled

Nielsen SoundScan reported that, as of last Sunday, unit sales reached 665.5 million for 2004. That represents a modest 1.4% increase over the same period 2003. The industry has one more week of sales left before getting a final tally for the year, the WSJ [1] reported.

This increase reflects, more than  anything the industry has done, a generally improving economy, along with a few breakout CDs. Much of the industry, however, remains mird in a creative drought of sorts.

Further, the music industry is  not competing well with other digital entertainment media. A survey by the Stanford Institute for the Quantitative Study of Society (reported yesterday in the NYT) [2] noted how the internet was cutting Into TV viewing [3].

 

Wsj_music_12312004_192738_2 [4]

While any sales increase is welcome, the final number will ultimately be a dissapointment after the fast start to the year. The first half of 2004 saw album sales up 8% gains from the prior year. 

The WSJ [1] noted that "Music companies have tried to capitalize on the DVD boom, although for the moment, they can’t keep pace with movie and television-program sales. Not one of the top 40-selling DVD titles, according to Nielsen VideoScan, is a music title."

Once again, we see a floundering industry unable to make positive moves in the right direction. Oh well, at least the bleeding has stopped. 

.
Source:

Sales of U.S. Music Albums Spin Slightly Faster [5]
Ethan Smith
The Wall Street Journal, December 31, 2004; Page A8
http://online.wsj.com/article/0,,SB110445255559113530,00.html

Internet Use Said to Cut Into TV Viewing and Socializing [3]
John Markoff
NYT December 30, 2004
http://www.nytimes.com/2004/12/30/technology/30internet.html


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URL to article: http://www.ritholtz.com/blog/2004/12/us-album-sales-slightly-positive-for-2004/

URLs in this post:

[1] WSJ: http://online.wsj.com/article/0,,SB110445255559113530,00.html?mod=home%5Fwhats%5Fnews%5Fus

[2] NYT): http://www.nytimes.com/2004/12/30/technology/30internet.html?oref=login

[3] internet was cutting Into TV viewing: http://www.nytimes.com/2004/12/30/technology/30internet.html

[4] Image: http://bigpicture.typepad.com/photos/uncategorized/wsj_music_12312004_192738_2.gif

[5] Sales of U.S. Music Albums Spin Slightly Faster : http://online.wsj.com/article/0,,SB110445255559113530,00.html

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