The music industry is undergoing yet another transformation, with digital formats – which have taken over the space of physical media – being replaced by streaming; if before it was common to download content, store and consume it, now, just consume. This whole scenario was summarized in an infographic by Total Bankruptcy, which explains “How the internet shook the music industry”.
Between 2000 and 2010, record store sales declined by more than 76%, a drop that is expected to be accentuated to 77.4% by 2016 – the sector was even listed as one of those who were dead or would die quickly. Meanwhile, CD sales dropped 50% from 2000 to 2009.
In January of this year came the big blow: sales of digital music surpassed physical formats for the first time, occupying 50.3% of the total sold. In 2011, the physical fell 5%, while the digital rose 8.4%.
This also brought down the sale of entire albums, by 55%, in a period of ten years (1999 to 2009), to less than 400 million units. At the same time, unit sales, which did not exist, went from zero to 1.2 billion.
Then another segment gained prominence and began to rock the reign of mp3. While iPod owners spent $ 0.99 for each music file, for the same amount they could listen to 64 songs on Spotify, which makes them available via streaming, without the need to download.
In the middle of it all, the one who benefited was the vinyl, which had been left behind from the cassette tape and, later, by the CD and the mp3. Last year, the format saw a 39% increase in sales; in 2012, until now, growth has remained at 10%. The conclusion of Total Bankruptcy is that people choose vinyl because of nostalgia.
Check out more data in the infographic: