Music Industry in The Tank, Thanks To Reallocation Of Illegal Music Download Wealth

The month of August — like, basically, every month for the past 10 years — has not been kind to the music industry.

Between August 8th and 14th, only 4.95 million albums were sold, the lowest weekly level since Neilsen Soundscan starting tracking sales in 1991. This past week, sales were up, but just barely: just over 5 million albums were sold, an increase of only 2 percent from the record low.

As you can see from the chart below, album sales have been on a steady decline since their peak in 2000. Digital album sales are growing, but not fast enough to make up the decline in sales of CDs.

So far this year, album sales are down 12 percent compared to the total sales at this time last year, according to Billboard

Music industry execs blame the dropping sales numbers on illegal downloads.

 Musicians should be happy with poor music lovers reallocating music wealth..

 

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