Does an increase in music sales the past two years indicate a comeback for the music industry? Market analysts think so! According to the Wallstreet Journal's Market Watch, a report by the NDP group has shown that the total number of CD buyers has increased for the second consecutive year, growing 2% to 78 million in 2011.
Analysts have a number of theories for the increase. The first theory is that the increased and enhanced availability of music (via mobile devices, ITunes, YouTube, Pandora, general radio streaming, etc.) has given listeners more "ear-candy," allowing them to preview songs and encouraging them to shell out money in order to purchase their favorites.
The second theory is that the quality of pop music is getting better. Manufactured boybands and groups are pretty much history, replaced by a much more divergent and talented pool of vocalists such as Adele and Katy Perry, who have broadened the audience for popular music and given people something to talk about.
Perhaps the most interesting theory used to explain the phenomenon is the decrease in digital piracy. Public and private crackdowns on the illegal copying and distribution of music has definitely played a major role in bolstering the economic growth of the music industry during the past two years. With file-sharing sites such as Mega Upload closing, music lovers are now being "forced" to purchase their favorite songs legally through ITunes, Amazon, and traditional, physical stores.
Check out this article for more information regarding the upward trend and be sure to let me know what you think about the growth in the market. Do you have your own theory?
No comments:
Post a Comment