People may be listening to music more than ever, but the U.S. record industry has seen album sales tank to an all time low.
Ed Christman at Billboard writes:
It’s the worst year (so far) for music sales since the 1991 debut of SoundScan (now Nielsen Music). Album sales, including track-equivalent albums (TEA, whereby 10 track sales equal one album unit) are down 16.9 percent in the first half of this year. But sales figures no longer tell the whole story of the record business.
Can’t say I’m not surprised considering the digital age of music we’re currently in.
Executives that Billboard spoke to at the end of 2015 pointed, in no shock, to streaming as the main culprit in the sales cull, particularly song sales.
Check out the rest of the Billboard article here. It’s worth a read.