CD Sales Slump

by | 13 Mar, 2009

theozIain Shedden for The Australian writes:

Sales of CDs and music DVDs in Australia have dropped 14.32 per cent last year,  a slump that further threatens the conventional CD store in the face of digital music distribution.

The new figures from the Australian Recording Industry Association (ARIA) show that the industry’s revenue for last year dropped by $36 million, or 12 per cent, from $462 million in 2007 to just under $426 million. The slump came despite a 35 per cent dollar-value increase in digital music sales last year, compared with the previous year…

Despite the poor sales in shops, the continuing rise in digital music sales could help the music industry ride out a recession over the next 12 months. We’ve seen a decline, which is disappointing, but then we’re hardly Robinson Crusoe on that front. Negative figures are the order of the day ARIA chief executive Stephen Peach

Read the full article in The Australian