June 20, 2007
The Record Industry's Decline
Rolling Stone Magazine on tanking record sales with no hope in sight: and how it all went wrong.
This is the first part of a two-part of series on the fall of the record industry. Brian Hiatt and Evan Serpick's report on where the music business went wrong, from the current issue of Rolling Stone, as well as an interactive graphic illustrating the industry's slide. Tomorrow, check back with RollingStone.com for interviews with the industry leaders on the future of the music business.
... Overall CD sales have plummeted sixteen percent for the year so far -- and that's after seven years of near-constant erosion. In the face of widespread piracy, consumers' growing preference for low-profit-margin digital singles over albums, and other woes, the record business has plunged into a historic decline."
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