WHILE THE DAY AFTER THANKSGIVING IS KNOWN AS “Black Friday” (because the heavy shopping puts balance sheets in the black), this year it has become known as “Bleak Friday” in the retail music CD business.
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Same-store CD sales in retailers plummeted 15 to 25 per cent from last year. Reuters reporter Ed Christman writes:
Disappointing sales performance during Thanksgiving weekend has merchants feeling pessimistic about music’s prospects for the holiday selling season and worried about what will happen to CD sales in the new year.
Not everyone had a bad holiday, however. Label executives said Best Buy, Circuit City, Target and Wal-Mart had strong music sales — at least on Black Friday, if not for the whole weekend. Wal-Mart’s combined sales for top hit titles were up nearly 50 percent, sources said, but that apparently was largely due to its Eagles exclusive and Garth Brooks’ “Ultimate Hits.” Wal-Mart is traditionally the No. 1 seller of Brooks titles, even when it’s not carrying a Brooks exclusive.
Music purchasers’ buying habits have definitely shifted. Not only increased downloads of music tracks, but basic retail sales from online sellers increased by 15%.
Read the full article HERE.
Read Firegeezer’s Farewell to the Record Store HERE.
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