Record sales

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A Virgin Megastore in Brisbane, Australia in 2007 Virgin Megastores Brisbane.JPG
A Virgin Megastore in Brisbane, Australia in 2007

Record sales or music sales are activities related to selling music recordings (albums, singles, or music videos) through physical record shops or digital music stores. [1] [2] [3] Record sales reached their peak in 1999, when 600 million people spent an average of $64 on records, achieving $40 billion in sales of recorded music. [4] [5] Sales continued declining in the 21st century. [6] [7] The collapse of record sales also made artists rely on touring for most of their income. [8] By 2019, record sales accounted for less than half of global recorded music revenue, overtaken by streaming. [9] Following the inclusion of streaming into record charts in the mid-2010s, record sales are also referred to as traditional sales or pure sales. [10] [11] [12]

Contents

According to Guinness World Records , Michael Jackson's 1982 album Thriller remains the best-selling album in history, with an estimated 66 million copies sold worldwide. [13] "White Christmas" (1942) performed by Bing Crosby is believed to be the best-selling single, with an estimated 50 million copies sold worldwide. [14] Although an accurate worldwide sales figure is hard to determine, it is widely acknowledged that the Beatles have sold more records than any other artist in the history of recorded music. [15] [16] [17] [18]

History

External images
RIAA U.S. Recorded Music Sales Charts (Interactive); Revenue and Volumes by Format. (1973 - )
Searchtool.svg Sales Reveneus by Format
Searchtool.svg Revenue break down 2018
Searchtool.svg Sales Volumes by Format
Searchtool.svg Sales Volumes breakdown 2018

Before the existence of recording medium and its player, the music industry earned profit through selling musical compositions on sheet music. The very first sales chart published by Billboard magazine in the United States was the Sheet Music Best Sellers chart. [19] Following the invention of the phonograph by Thomas Edison in 1877, [20] the music industry began hiring singers to record songs made by composers. Due to the length limit of recording media, singles were the only available commercial releases. In 1900, the US record sales is estimated at about 3 million copies. The music industry continued its growth, and by 1921 the value of record sales in the US reached $106 million with 140 million records being sold. [21]

Album sales were first reported by Billboard magazine on March 24, 1945. [22] An album was then defined as a box containing a set of singles, such as Glenn Miller by Glenn Miller, as well as Selections from Going My Way and Merry Christmas by Bing Crosby. Technological developments in the early 20th century led to the development of the vinyl LP record as an important medium for recorded music. In 1948, Columbia Records began to bring out 3313 rpm twelve-inch extended-play LPs that could play for as long as 52 minutes, or 26 minutes per side. Musical film soundtracks, jazz works, and thematic albums by singers such as Frank Sinatra quickly utilized the new longer format. Billboard launched its first regularly published weekly albums chart, Best Selling Popular Albums, on March 24, 1956. [22]

During the 1950s and into the 1960s, 45 rpm seven-inch single sales were considered the primary market for the recording industry, while albums were a secondary market. The careers of notable rock and roll performers such as Elvis Presley were driven primarily by single sales. Album sales reached its peak in English-language popular music from the mid 1960s to the mid 2000s (known as "album era") in which the album was the dominant form of recorded music expression and consumption. [23] From the early 1980s, the CD became the dominant format for both albums and singles, due to factors such as higher audio quality, durability, ease of use, and longer playing time. In 1986, Dire Straits' Brothers in Arms became the first album in history to sell over one million copies on CD. [24]

In October 2005, "Hollaback Girl" by Gwen Stefani was the first single ever to sell one million digital downloads. [25] Downloads have been in decline since 2013 as consumers have moved away from a purchase/ownership model towards a subscription-based model (streaming). By 2018, total sales were at their lowest point since the 1970s, and continue to fall. In 2020, major UK retailers such as supermarkets started to stop selling music. [26]

Marketing

A crowd buying records in the Dusty Groove store during the Record Store Day, April 2014. Dusty Groove Record Store Day 2014.jpg
A crowd buying records in the Dusty Groove store during the Record Store Day, April 2014.

Aside of paid advertising in print or broadcast media, radio airplay is one of the most important tools to sell records. A research commissioned by one of major label groups stated that "four out of five music purchases can be traced to radio airplay. [27]

In 2007, Record Store Day was inaugurated to bring together fans, artists, and thousands of independent record stores across the world. [28] The 2013 event of Record Store Day was credited with the highest U.S. vinyl sales, [29] and the 2014 edition resulted in independent retailers recording the highest percentage of physical album sales, since the SoundScan system was introduced in 1991. [30]

Merchandise bundles

In 2004, Prince became the first major artist to bundle his album, Musicology , with tour ticket purchases, giving copies of the album to each audience upon entrance to the venue. Those copies were counted as sales for the album on the Billboard 200 chart during its corresponding week of each concert. This strategy led Billboard and Nielsen SoundScan tighten up their policy on how tickets bundled with albums would count for charting purposes. [31]

Travis Scott bundled his 2018 album Astroworld with his 28-piece merchandise line, which contributed to first-week sales exceeding 270,000 traditional units and a number-one debut on the Billboard 200. [32]

RIAA summary by format, in million copies per year. [33]

500
1,000
1,500
2,000
70s
1980
1985
1990
1995
2000
2005
2010
2015
2020

Financial loss

At times, labels overshipped records to retailers with too high expectations of commercial response. Records not sold to consumers may be returned to the label. In January 2008, media reported that over one million unsold copies of Robbie Williams's album Rudebox were sent to China to be crushed. [34] EMI owner Guy Hands said, "Roughly 85% of what EMI does get to release never makes a profit, in part because of the cash spent signing bands and partly due to ill-made bets on the number of CDs the market requires for particular acts." [35]

In 2011, Amazon sold an estimated 440,000 copies of Lady Gaga's Born This Way in its first two days at a price of 99 cents. [36] This promotional campaign caused a loss of over $3 million for the company. [37] In 2014, U2's album Songs of Innocence was released for free on iTunes. Apple's deal with U2 and the band's label, Universal Music, which stands to lose more than a million full-price sales because of the free download offer, guarantees $100 million worth of high-profile marketing for the album. [38]

Second-hand

The sale of second-hand albums and singles continues into the 2020s, with many record stores having a used section, as well as pawn shops such as CeX, Cash Generator, Cash Converters, [39] and the emergence of eBay, MusicMagpie, Alibris and other dedicated websites. [40] [41]

See also

Related Research Articles

<span class="mw-page-title-main">RIAA certification</span> Sales certification from the Recording Industry Association of America

In the United States, the Recording Industry Association of America (RIAA) award certification based on the number of albums and singles sold through retail and other ancillary markets. Other countries have similar awards. Certification is not automatic; for an award to be made, the record label must first request certification. The audit is conducted against net shipments after returns, which includes albums sold directly to retailers and one-stops, direct-to-consumer sales and other outlets.

<span class="mw-page-title-main">Music recording certification</span> Certification that a music recording has shipped, sold, or streamed a number of units

Music recording certification is a system of certifying that a music recording has shipped, sold, or streamed a certain number of units. The threshold quantity varies by type and by nation or territory.

<span class="mw-page-title-main">Bruce Springsteen discography</span>

American rock musician Bruce Springsteen has released 21 studio albums, 23 live albums, 77 singles, and 66 music videos. Widely referred as "The Boss" by the media, Springsteen has sold over 150 million records worldwide, listing him among the best-selling music artists in history. Billboard ranked him as the 24th Greatest Artist of all time. According to Recording Industry Association of America, he has sold 65.5 million albums in the United States, making him the 7th best-selling male soloist of all time. Born in the U.S.A. remains the best-selling album of his career, selling more than 30 million copies around the world.

<span class="mw-page-title-main">Britney Spears discography</span>

American singer Britney Spears has released nine studio albums, eight compilation albums, nine box sets, three extended plays (EPs), 50 singles, 11 promotional singles, two charity singles, and has made three guest appearances. In 1997, Spears signed a recording contract with American record label Jive Records in order to launch her career.

<span class="mw-page-title-main">Remix album</span> Album consisting mostly of remixes or re-recorded versions of earlier released material

A remix album is an album consisting of remixes or rerecorded versions of an artist's earlier released material. The first act who employed the format was American singer-songwriter Harry Nilsson. As of 2007, the best-selling remix album of all time is Michael Jackson's Blood on the Dance Floor: HIStory in the Mix (1997).

<i>Savage Garden</i> (Savage Garden album) 1997 studio album by Savage Garden

Savage Garden is the debut studio album by Australian pop duo Savage Garden. It was released on 4 March 1997 in Australia by Columbia Records and Roadshow Music. The album won the award for Highest Selling Album at the 12th Annual ARIA Music Awards, selling more than 12 million copies worldwide, according to Billboard magazine. In September 1997, Savage Garden won a record ten ARIA Awards from 13 nominations for the album and associated singles. As of 2005, Savage Garden had been certified diamond in Canada, 12× platinum in Australia, 7× platinum in the US, 2× platinum in New Zealand, Singapore, and in the UK.

<span class="mw-page-title-main">Michael Jackson albums discography</span>

American singer Michael Jackson (1958–2009) released ten studio albums, five soundtrack albums, thirty-five compilation albums, ten video albums and seven remix albums. Since his death, two albums of unreleased tracks have been posthumously released. Jackson made his debut in 1964 at the age of five with The Jackson 5, who were prominent performers during the 1970s. Jackson is one of the best-selling music artists in history with over 400 million records sold worldwide. According to the Recording Industry Association of America (RIAA), Jackson has sold 89 million certified albums in the United States.

<span class="mw-page-title-main">Eminem albums discography</span>

American rapper Eminem has released 11 studio albums, two compilation albums, and one extended play. His music has been released on record labels Interscope Records and Aftermath Entertainment, along with subsidiaries Web Entertainment and his own Shady Records. Eminem is the best-selling rapper of all time and the best-selling artist of the 2000s with US album sales at over 32.25 million during the decade. With sales of over 500 million records worldwide, he is among of the best-selling music artists of all time. According to the RIAA, Eminem has sold 227.5 million certified albums and singles in the United States. In his home country, he has earned 50 platinum albums and 10 number one albums.

The Federazione Industria Musicale Italiana (FIMI) or Federation of the Italian Music Industry is an umbrella organization that keeps track of virtually all aspects of the music recording industry in Italy. It was established in 1992, when major corporate labels left the previously existing Associazione dei Fonografici Italiani (AFI). During the following years, most of the remaining Italian record labels left AFI to join the new organisation. As of 2011, FIMI represents 2,500 companies operating in the music business.

<span class="mw-page-title-main">Evanescence discography</span>

American rock band Evanescence has released five studio albums, two live albums, one compilation album, two demo albums, three extended plays, eighteen singles, nine promotional singles, two video albums, and eighteen music videos. Evanescence was founded in 1994 by Amy Lee and Ben Moody in Little Rock, Arkansas. The band's lineup comprises Lee, guitarist Troy McLawhorn, guitarist Tim McCord, drummer Will Hunt, and bassist Emma Anzai. As of 2022, the band has sold over 31.9 million albums.

<span class="mw-page-title-main">Westlife discography</span>

Irish boy band Westlife have released twelve studio albums, sixteen video albums, one live album, three karaoke albums, thirty-eight singles, twenty-one promotional singles,Alexis nine compilation albums and fifty-four music videos. Formed on 3 July 1998, the group was made up of singers Nicky Byrne, Kian Egan, Mark Feehily, Shane Filan, and Brian McFadden. The band was signed under Simon Cowell, Clive Davis, and Jordan Jay and under record labels' BMG, S Records, Arista Records, Sony BMG, Syco Music, Sony Music Entertainment and RCA Records from 1998 to 2012 and currently on Universal Music Group and Virgin EMI Records from 2018. The last four members remained active until their last live concert performance in the Europe's third largest stadium Croke Park on 23 June 2012 and have reunited on 3 October 2018 for new music and tour. Based on the British Phonographic Industry certifications, the group have sold more than 26 million records and videos in the United Kingdom alone across their 20-year career–12.8 million singles, 13.5 million albums and 1.3 million videos. Their biggest selling album is their first Greatest Hits compilation, followed by Coast to Coast, with seven of their albums selling one million copies or more. Their biggest selling video is "Where Dreams Come True", which has sold 240,000 copies to date.

<span class="mw-page-title-main">Bleeding Love</span> 2007 single by Leona Lewis

"Bleeding Love" is a song recorded by British singer Leona Lewis for her debut studio album, Spirit (2007). It was originally written and recorded by American singer Jesse McCartney, and was co-written and produced by American singer Ryan Tedder. "Bleeding Love" was released worldwide during the last quarter of 2007, and the first of 2008, as the album's lead single internationally, and as the second single in Ireland and the United Kingdom. McCartney later included his version of the song as a bonus track on the international edition of his third studio album, Departure (2008). It is Lewis' biggest hit, to date, and remains her signature song. As of 2021, "Bleeding Love" has been streamed over two billion times.

Hitlisten, also known as Tracklisten, is a Danish top 40 record chart that is updated every Wednesday at midnight on the website hitlisten.nu. The weekly Danish singles chart combines the 40 best-selling tracks from streaming and legal music downloads. The Danish albums chart combines downloads, streaming and also sales of CDs. There is a separate vinyl chart. The data is collected by Nielsen Music Control, who also compile the chart on behalf of IFPI.

<span class="mw-page-title-main">Ariana Grande discography</span>

The discography of American singer, songwriter, and actress Ariana Grande consists of seven studio albums, two compilation albums, one live album, two extended plays (EPs), fifty-four singles, and fifteen promotional singles. Throughout her career thus far, Grande has sold over 90 million records worldwide, making her one of the best-selling music artists of all time. According to the Recording Industry Association of America (RIAA), she has sold over 100 million units, across albums, singles, and features, and 10 million albums and 73.5 million digital singles units as a lead artist. In the U.S., Grande has moved 22.4 million album units, and garnered over 23.6 billion streams across lead artist credits, according to Luminate. Having amassed over 105 billion consumed streams thus far, Grande is the most streamed female artist ever. She is also the most streamed female artist of the 2010s on Spotify and Apple Music. She has amassed 73 chart entries on the Billboard Hot 100—the fourth most entries for a female artist—including eight number ones and 21 top-10 hits altogether so far. Grande was named the sixth top female artist of the 2010s decade, and was ranked among Billboard's Greatest of All Time Hot 100 Artists, at number 78. Grande is also one of the most certified female artists in the UK, with nearly 25 million units.

<span class="mw-page-title-main">Album-equivalent unit</span> Measurement unit in the music industry

The album-equivalent unit, or album equivalent, is a measurement unit in music industry to define the consumption of music that equals the purchase of one album copy. This consumption includes streaming and song downloads in addition to traditional album sales. The album-equivalent unit was introduced in the mid-2010s as an answer to the drop of album sales in the 21st century. Album sales more than halved from 1999 to 2009, declining from a $14.6 to $6.3 billion industry. For instance, the only albums that went platinum in the United States in 2014 were the Frozen soundtrack and Taylor Swift's 1989, whereas several artists' works had in 2013.

<span class="mw-page-title-main">Global Recording Artist of the Year</span> Award

The Global Recording Artist of the Year is an award presented by the International Federation of the Phonographic Industry (IFPI) to honor the year's commercially best-performing musician, based on global album-equivalent units earned, which includes music downloads, streaming and physical sales. It has been awarded every year since January 2014, starting with the British boy band One Direction, who won the accolade for 2013. American singer-songwriter Taylor Swift is the biggest winner of the accolade, having won three times—in 2014, 2019, and 2022.

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