Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

As Digital Gains, Album Sales Plunge 11%

Music biz turmoil as CDs plummet

By Peter Fearon,  Newser Staff

Posted Jul 3, 2008 6:35 AM CDT

(Newser) – CDs continue to go the way of the 8-track, losing further ground to digital music. Another big drop in CD sales is being driven by the closure of Virgin stores and reduced shelf space at outlets like Target. CD sales are off 16% over the last 12 months and total album sales have dropped 11%, Variety reports.

Digital's share of the market climbed to 15.5% of all album sales, or 31.6 million units. The top three albums of 2008 all come from Universal Music Group: Lil Wayne's Tha Carter III, Jack Johnson's Sleep Through the Static, and Mariah Carey's E=MC2.

The closure of Virgin record stores helped drive down the sales of CDs further.
The closure of Virgin record stores helped drive down the sales of CDs further.   (Magnum Photos)
Singer Mariah Carey's E=MC2 album is on eof the biggest selling albums of 2008.
Singer Mariah Carey's "E=MC2" album is on eof the biggest selling albums of 2008.   (AP Photo/Itsuo Inouye)
Rapper Lil' Wayne makes an appearance on MTV's Total Request Live. His album, Tha Carter III is the biggest seller of 2008.
Rapper Lil' Wayne makes an appearance on MTV's "Total Request Live." His album, "Tha Carter III" is the biggest seller of 2008.   (AP Photo/Peter Kramer)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Apple Teams Up With Record Labels to Revive the Album


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne