Continuing good news for the music industry; 2012 1st quarter sales levels increased over same period 2011 levels. As I talked about over the last few posts, to include the positive growth numbers out of PRO ASCAP, and the increase in the number of music buyers, we now have three solid metrics to point toward a turnaround in music revenues, or at the very least a steadying of the ship so to speak.
1st quarter 2012 album sales increased 2.3% over 2011, digital tracks increased 6.6%, and total album sales combined with digital track album equivalent (total digital tracks divided by 10 -> to represent an average album of ten songs) increased 3.6%.
As we know, the quality bar has been raised and the music consumer now demands a project containing 10 solid tracks -not one or two good tracks tethered with 8 mediocre ones - before they will opt to buy an album versus individual tracks. Not that the consumer is any different in this respect than 20 years ago, they are just empowered through technology to carry more influential capital. As we have seen with Adele and Taylor Swift, deliver a great album and sales will follow -> certainly not a new concept but one that carries substantial weight in today's mobile connected society with vast entertainment choices.
(Chart by K Erickson, Statistics from Soundscan)