I just came across some revealing statistics at Digital Music News (thanks, DP).
In relevant part:
At the recent A2IM (American Association of Independent Music) annual gathering in New York, some scary numbers were floating around. According to Nielsen Soundscan, a total of 105,000, new full-length albums were released in 2008, a fourfold gain from the earlier 2000s. And of that pot, just 6,000 releases sold 1,000 units or more in the first year. [Emphasis mine]
For years, the RIAA and its apologists have been predicting the downfall of the music industry; these numbers simply don’t bear that out. The industry as the RIAA understands it may continue to struggle as it tries to reinvent itself, but the foundation of it all – the music – is just fine, and that simple fact gives me ample hope for the future of the industry. People are increasingly interested not only in listening to music, but in making it themselves. The proliferation of relatively cheap, relatively high-quality recording equipment has made it possible for talented amateurs to produce a well-made record, and the aforementioned explosion in album releases proves that more people than ever are doing so.
Of course, the other side of this is that almost 95% of those albums probably aren’t selling well enough to allow their makers to recoup their expenses, let alone be full-time hotel-room-thrashing rock stars. In this age of specialization, an argument can be made that overall quality suffers as these individuals find it impossible to focus all their efforts on music.
But I reject this argument. Countless truly great acts in 20th-century popular music started as amateurs and achieved early notoriety (and relative financial solvency) in that capacity. To be sure, maximizing that talent requires the full dedication of a specialized professional; I argue that the way is still open for those who are sufficiently talented.
Many of the groups behind those 105,000 releases will remain amateur (or flame out completely), but I don’t look on this as a bad (or even a new) thing. For the listener, having more material to choose from is never bad – and as a musician, the best one can hope for is to put one’s best work out in to the world where it can be heard. Competition is healthy, and the cream will rise as it always has.
Tagged: Business and Economics, Music, recording industry, riaa