The Bankwatch

Tracking the consumer evolution of financial services

Sales of Music, Long in Decline, Plunge Sharply

 This statistic is notable for all industries including Banking.  While its interesting to note small changes year over year, hockey stick effects, where sudden shifts occur will happen when industries are under threat.

This despite the efforts of the music industry giants to use every means at their disposal, including competitor efforts, alliances, and legal action.  The message is that seismic shifts caused by internet disruption, require seismic strategy changes.  In any event the inevitable cannot be stopped.

In a dramatic acceleration of the seven-year sales decline that has battered the music industry, compact-disc sales for the first three months of this year plunged 20% from a year earlier, the latest sign of the seismic shift in the way consumers acquire music.

Source: Sales of Music, Long in Decline, Plunge Sharply – WSJ.com

Written by Colin Henderson

March 21, 2007 at 22:56

Posted in Uncategorized

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