Singles Save Industry?

Have your music buying habits changed? Do you buy a CD of your favorite artists newest “album” or do you just log onto your iTunes account and download the single you just heard on the radio?

 

It doesn’t take an industry insider to figure out that digital downloads have changed the music industry.  For decades the business was done one way; producing albums of a dozen or so songs that consumers had to purchase in order to get the couple of songs they have heard (and loved) on the radio.

Do you remember buying 45rpm singles?

Buying single tracks in a digital format is the current version of buying those vinyl singles.

Our digital media players have become portable jukeboxes of our favorite “singles”.

Most of us no longer purchase entire albums worth of music, digitally or in CD format.  The exception for me had always been the “Greatest Hits” album, a compilation of the most popular “singles” of an artist.  More and more though, I’m finding I already have the songs I really want by the time the “Greatest Hits” album is released.

Now that we can buy just one track as a digital download, it raises the question, Why still produce a CD? A recent editorial by Eric Felten in the Wall Street Journal explored the changes in the music industry along these lines pointing out the long-term positives for both artists and the industry even in the face of the current bottom line negatives.

What about your business? Are you in an evolving industry?  Is technology changing how consumers use your goods or services?  Are you keeping up with those changes?   Have you changed?  Adapted?  Even better, are you staying out in front or are you continuing to produce CDs when all the customer is buying are digital singles?

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One Response to “Singles Save Industry?”

  1. Robin Ryan Says:

    No one makes you think like Sunny. She’s original and has her finger on the pulse of today’s business world. I continue to be impressed with the high-quality business advice that she freely shares in her blog. I love the ideas, and examples. Sunny sees opportunities and inspires entrepreneurs where other people just complain about the tough economy. Sunny’s blog is one the best blogs out there–every business owner needs to sign up and read her blog! I never miss a one….she’s that good…that helpful…and very smart.

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