A podcast I’ve blogged about before Sound Opinions has a great new episode (show #59) that spends a good deal of time talking about the 2006 music sales numbers, which have recently been released.
Essentially there’s nothing terribly earthshaking here – CD sales down (5%), digital sales up (up to 13% of all sales), etc. However, the repeated mantra is one of “more music – in varying forms – is being purchased then ever before.” In fact, total music sales is up 19.6%. Please note, this does not mean that profit is up.
In other words, while labels are selling more stuff, they’re making less doing so. Jeff Mayfield from Billboard, who is interviewed on the show, sort of sums it up when he says, it’s now a business of making “dollars from pennies.”
Another interesting note is that there is now talk of one of the music businesses’ best friends: repurchase. In other words, people are replacing their CDs with digital sales, as evidenced by the surge in the sales of digital catalog sellers (up 109%).
You can subscribe to the podcast or stream/download the episode. The segment on the business runs from about 5 minutes in to 15 minutes in.
As an added bonus, they’ve also got an interview with Robyn Hitchcock and Peter Buck (my surrogate older brother).