9/6/2023 0 Comments My albums from 2009![]() "That four-year lag is where the music industry lost the battle," said Sonal Gandhi, music analyst with Forrester Research. ![]() Even after iTunes got people buying music tracks for just 99 cents, it wasn't as attractive as free. In the time between Napster's shuttering and iTunes' debut, many of Napster's 60 million users found other online file sharing techniques to get music for free. "The CD is still disappearing, and nothing is replacing it in entirety as a revenue generator."Ġ:00 / 1:32 Napster's impact a decade laterĪpple's ( AAPL, Fortune 500) iTunes is credited with finally getting people to pay for digital music, but it wasn't unveiled until 2003. "The digital music business has been a war of attrition that nobody seems to be winning," said David Goldberg, the former head of Yahoo music. It's also a bit unfair to compare the 2000s with the 1990s, since the '90s enjoyed an unnatural sales boost when consumers replaced their cassette tapes and vinyl records en masse with CDs.īut industry insiders and experts argue that the main culprit for the industry's massive decline was the growing popularity of digital music. The two recessions during the decade certainly didn't help music sales. "The industry is adapting to consumer's demands of how they listen to music, when and where, and we've had some growing pains in terms of monetizing those changes." "There have been a lot of changes over the past 10 years," said Joshua Friedlander, vice president of research at RIAA. Last decade was the first ever in which sales were lower going out than coming in. Although the Recording Industry Association of America will report its official figures in the early spring, the trend has been very clear: RIAA has reported declining revenue in nine of the past 10 years, with album sales falling an average of 8% each year.
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