Old is New Again

Not sure what this says about the current state of the music "industry" but it's probably not good. 

• Old records now out-selling new ones for first time:

  In the two decades since Nielsen Soundscan started to keep track of U.S. album sales in 1991, the company has seen the industry fold in half, digital sales catch up to physical, and vinyl mount a resurgence. But until last week, they'd never seen old records outsell new ones.

  The first six months of the year saw sales of 76.6 million catalog records -- industry-speak for albums released more than 18 months ago -- compared to 73.9 million current albums.[...]

  The top-selling catalog records of the year so far include Guns N' Roses' Greatest Hits and four records by Whitney Houston, whose canon got a boost after her death in February. Bakula says the biggest reason catalog has been so strong is that record labels and retailers continue to drop the price of older albums, often to as low as $5.99 or $7.99. Those prices, sometimes half of what they once were, are bringing in new customers. "I really, truly do believe that there probably is a consumer that is buying music here that wasn't buying music in the past," he says.

Look here for my recent assessment of the potential damage of file sharing and "free" music to independent artists, who are admittedly not really what Nielsen Soundscan is likely tracking.

Comments

[LegFuJohnson]

It's all that mainstream crap like Bieber and Arcade Fire pushing any good stuff away. You want good music, you have to look to the past like GnR.

We are a Hair Nation.

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