The Death of the Physical Album

Over the past decade the entertainment industry has changed completely, more specifically the way artists make money has changed the most. According to Billboard, Album sales have dropped over 12.8% since 2011 decreasing from 373.9 million units to 326.2 million units. The introduction of online markets it has made it to where a customer can buy one single track instead of a full album, which has caused artists, record labels, and record stores to be either be forced to give up a life long dream or be put out of business. Many consumers now days are able to listen to an entire album for free via Pandora Radio (a live streaming service) without paying a dime. The artists are getting paid for each “play” they receive but really artists barley make any money on streaming their music. The music industry has become a tough environment to become successful in either you make it big or you are barley making it by. That brings me to my point, how will artists over the next decade adapt and overcome the “one song buyer” and the “online streamer?” Artists are already changing and adapting to it by making their albums more enticing for their fans to buy by adding more additional content, live videos, or discounts on tickets to a live event. Artists understand that it is not the albums that will make them money but the live concerts that will allow them to keep playing music for a living. Adding this additional content to their albums allows the fans to feel as if they are getting more for their money and is ultimately attracting more people to their live concerts. The ability to buy music online, listen to your favorite artists via online streaming services, and watch them live via a streaming service. According to Mashable, record sales dropped  over 76% from the year 2000 to 2010 and is expected to drop another 77.4% by 2016, it makes you wonder if the physical album will completely disappear over the next few decades. I come to my last and closing question, “Would getting rid of the physical album help the artists make more money in the industry if their full focus was on promotion, viral videos, and live concerts?”