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CD Music Sales Down 20% In Q1 2007 544

prostoalex writes "Music sales are not just falling, they're plummeting — by as much as 20% when you compare January-March 2007 with the 2006 numbers. The revenue numbers are actually worse, since CD prices are under pressure. The Wall Street Journal lists many factors contributing to the rapid decline: 800 fewer retail outlets (Tower Records' demise alone closed 89); increasingly negative attitude towards CD sales from big-box retailers (Best Buy now dedicates less floor space to CDs in favor of better-selling items); and file sharing, among others. Songs are being traded at a rate about 17 times the iTunes Store's recent rate of sales. Diminishing CD sales means that you don't have to sell as many to get on the charts. The 'Dreamgirls' movie soundtrack recently hit #1 by selling 60,000 CDs in a week, a number that wouldn't have made the top 30 in 2005."

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