Data Shows Music Sales Are On The Rise
January 5, 2012 at 5:42 AM (PT)
Digital downloads helped increase U.S. music sales by 6.9% in 2011 -- the first time consumer purchases of albums increased since 2004, reports BLOOMBERG. "Overall sales of albums, single tracks and music videos increased to 1.61 billion units," noted the report, citing SOUNDSCAN data. "Total album sales expanded 1.3% to 330.6 million."
ADELE's "21" drove the sales of digital albums 19.5%. The album sold 5.8 million copies, and has been nominated for six GRAMMY AWARDS.
"UNIVERSAL MUSIC GROUP controlled 29.9% of U.S. music sales in 2011, while SONY CORP.’s music unit accounted for 29.3%," reported BLOOMBERG. "WARNER MUSIC GROUP garnered 19.1% and EMI GROUP controlled 9.6%.
In DECEMBER (NET NEWS 12/28/2011) REUTERS reported U.S. music sales were up 3%.
There was also good news for the music business overseas, as BLOOMBERG reported earlier this week (NET NEWS 1/3) that digital music album sales in the U.K. climbed 27% last year and singer ADELE's '21' set a new industry record, helping curb a slide in demand for CDs.