There’s been a bunch of news lately about the resurgence of the vinyl LP, especially among younger buyers. Now comes word that nearly one-half of all teens did not but one single CD in 2007. Not a single one!
Clearly, this is not due to the growth of LP sales (at least not entirely) but more to the explosion in digital music. Not only does “pirated” music continue to be a massive market but legal downloads are on the rise as well.
“The number of people buying music legally from online music stores jumped 21% to 29 million last year from 24 million in 2006, according to the study by NPD Group, a market research firm in Port Washington, N.Y.”
One big reason for this is that online distributors and labels have realized the need for DRM-free downloads. They’re also playing around a lot with pricing structures as I mentioned yesterday with Amie Street. (check out this post for another scheme from indistr).