2008 a tough year for music
2009-01-01 14:00
Los Angeles - US album sales slid for a seventh time in eight years in 2008 as growth in the digital arena, one of the few bright spots in the ailing music industry, slowed, according to data issued on Wednesday.
Total album sales fell 14% to 428.4 million units during the 52-week period ended on December 28, according to retail data collected by tracking firm Nielsen SoundScan.
This follows a 15% drop in 2007, and sets a new low since the firm began monitoring sales in 1991.
Sales have plummeted 45% from the industry's high-water mark of 785.1 million units in 2000, due largely to internet piracy and competition from other forms of entertainment such as video games.
In 2008, the industry also faced an economic recession.
Digital downloads down on growth
Digital downloads, through online retailers such as Apple Inc's iTunes store, have taken on greater importance to the industry, but the impressive growth of recent years is waning.
Digital track sales rose 27% to a record 1.07 billion units, but the growth was slower than the 45% jump in 2007. Digital album sales rose 32% to 65.8 million units, after a 53% jump in 2007.
Ringtones are also a major new focus. But purchases of the top 100 master tone ringers slid 33% to 43.8 million units. Only one master tone broke the two million mark - rapper Lil Wayne's Lollipop. In 2007, three did.
Lil Wayne also took honours for 2008's top-selling album, moving 2.9 million copies of Tha Carter III. The No 1 album in 2007 was pop vocalist Josh Groban's Noel with 3.7 million copies.
Only three other albums sold more than two million copies last year: English rock band Coldplay's Viva la Vida and country singer Taylor Swift's Fearless each with about 2.1 million, and rocker Kid Rock's 2007 release Rock'N'Roll Jesus with 2 million.
Taylor Swift biggest artist of 2008
That's down on 2007 when eight albums sold more than two million copies.
Swift, 19, was the biggest artist of 2008, selling four million copies, mostly of Fearless and her 2006 self-titled debut.
Anglo-Australian rock band AC/DC followed with 3.4 million copies, selling almost as many of their old albums as they did of their first release in more than eight years, Black Ice, which was No 5 with 1.9 million copies.
Overall music sales, including albums, singles, music video and digital tracks, rose 10.5% to 1.5 billion units, after 14% growth in 2007 and a 19% jump in 2006.
- Reuters