Music sales slide not expected to turn around
NEW YORK (AdWeek) - The near future appears to hold mainly sour notes for the beleaguered music business, according to eMarketer.
U.S. sales of recorded music will slide to $5.5 billion in 2013, down from $7.3 billion in 2009, eMarketer said. This downward trajectory extends a pattern that began in 2000, when sales of physical sound-carriers began to decline after rising dramatically during the heyday of the CD.
The patterns from the past two years are set to continue: Online music consumption will rise; mobile music stands to slip slightly; and physical unit sales will continue to plummet at an accelerated rate.
Growth in digital formats as a whole (that is, the sum of online and mobile) will not compensate for losses in the realm of physical sales, but it will slow the rate of those losses to a 2.9% drop in 2013.
For marketers, the depressed state of the music business means that labels and artists are more open than ever to creative licensing and branding opportunities.
(Editing by Dean Gooodman at Reuters)