Memo to the music industry.
It’s no surprise that the music industry is in the dumps. 2007 CD sales were at 1994 levels. Here’s what needs to happen: Sony, Universal, EMI, and Warner need to keep selling CDs. They also need to keep selling music digitally, but at reduced prices, because the distribution of those songs is so inexpensive. Here’s the kicker: they need to sell albums. No single songs. If you buy Kid Rock’s new album, you must buy the whole album, not just your favorite song. Selling single songs is the fastest way to create a “one hit wonder.” And for more entrenched musicians, selling one great song, which will be played over and over is the fastes way to create burn out.
Get rid of the single song sales, cut the price of the digital album, and the overall business will pick up.
