Album sales increase for first time since 2004

Andre Yoskowitz
14 Nov 2011 14:38

For the first time since 2004, album sales have actually increased although revenue continues to fall.
Thanks to Spotify, discounts and major releases like Lady Gaga, the music industry is on pace to see its first sales growth in over half a decade.

On exec was very happy with the figures, Vivendi CEO Jean-Bernard Levy (Vivendi owns Universal Music Group):

There's a clear rebound in music sales this year. We don't want to claim victory. But the music industry may be at a turning point.

Overall sales, which include record albums, digital downloads, compact discs, some vinyl LPs and cassettes, are up 3 percent, to the tune of 255 million albums sold, says Bloomberg.

Levy says he believes across-the-board lower prices has helped the cause, with most new albums now launching at $9-$10 compared to $14-$20 in the early 2000s.

In 2000, boy bands lead the charge to a record 785 million units sold and declines have been steady since.