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![HOW THE INTERNET e HAS ROCKED THE MUSIC INDUSTRY Online music downloads and streaming caused the traditional ways of buying and listening to music to suffer BUT JUST HOW BAD IS IT? THE DECLINE OF THE RECORD STORE Between 2000 and 2010 record store sales declined more than Between 2000 and 2009 CD album sales 76% 50% It may be dropping ano 77.4% BY 2016. RECORD STORES WERE IN IBISWORLD'S LIST OF 10 U.S. INDUSTRIES THAT WERE DEAD OR DYING FAST. SIGN OF THE TIMES: IN 2009 the last of the Virgin stores ALSO IN 2006 Tower Records closed all of its 89 U.S. stores. HMV-a company parent company closed its 131 based out of the UK-pulled out of the U.S. market. 13) company's parent bankruptcy. l4) filed for Chapter 11 bankruptcy in In January 2012, digital music sales surpassed physical music sales for the first time ever. [6) Digital sales made up of all music sales S0.3% Digital music sales Physical music sales S % DOWN 078.496 UP In 2011: FROM MP3S TO STREAMING 0 ORIGINALLY, DIGITAL MUSIC WAS CONFINED TO THE COMPUTER File-sharing MP3s were mainly distributed online popular, like Morpheus Then, Diamond Multimedia created Rio, a digital audi MUSIC BECAME: iTunes was established in 2001,(8) Portable affordable Available with large selections $0.99 Instead of storing music on a hard drive or MP3 player, users can stream songs. now a very popular way to access music. 1 $.0.99 iTunes - 64 Spotify AAaA song listens THE MP3 PLAYER PHENOMENON AND MUSIC STREAMING HAVE ALLOWED USERS TO DOWNLOAD AND LISTEN TO INDIVIDUAL SONGS INSTEAD OF ENTIRE ALBUMS This marked a huge change in the music industry In fact, from about 1999 to 2009, sales of full albums dropped 55% to less than 400 million. However, individual, digital track sales went from 0 to 1.2 billion. DESPITE THE GROWTH IN DIGITAL MEDIA, ABOUT 2,000 INDIE MUSIC STORES STILL SURVIVE. 110) THE OLD LIVES ON Some attribute this to the remaining popularity for vinyl So far in 2012, 39% 10%↑ vinyl album sales increased by VINYL REMAINS RELATIVELY POPULAR BECAUSE IT: (111 Causes feelings of nostalgia ides quality sound. Is actually tangible CONCLUSION Even though the digital music revolution caused both independent and chain record stores to suffer, some retailers continue on with the help of avid supporters. Regardless of the growth and decline of music forms, there are pros and cons to RRIevery type, and only the future will tell MLonews es what additional changes are to come. [1] http://abcnews.g 10. story?id=1329232&#T-Dr-83c6IM [21 http://www.thefiscaltimes.com/Speci [31 http://www.nytimes.com/2009/06/15 arts/music/15virgin.hitml Industries/Slide2.aspx 100-207 162-599008 htm 71 Music Revalution and Consumers.pdf [9] http://www.pcworld.comvarticle/194081/10_things_the_internet_has [10] http-//www.huffingtonpost.com/2012/04/20/record-store-day-2012_n 1439916.htmil [11] http: /www.forbes.co cd-the-tables-are-turning-rolling-stones-dom-lyor-coherv](https://i.kym-cdn.com/photos/images/list/000/358/659/c7c.jpg "c7c.jpg")
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NILLOC916
May 20, 2014 at 10:18AM EDT
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