Neilsen SoundScan data presented at NARM was distressing, to say the least: of the 105,575 albums released last year, less than a thousand sold more that 25,000 copies. And, sales of new releases dropped 18%. The 50,000 digital-only albums racked up less than 2% of all the newly-released album sales.
Indie artists tallying up their recording, mixing, mastering, graphic design, replication, distribution and promotional expenses for a CD release, especially a first one, need to take a hard look at the over-the-cliff ‘08 numbers and explore alternate revenue streams for supporting their music “business.” Opportunities from merch, mobile and media like TV need to become part of a bigger profitability strategy. A solid business plan sets the stage for good business decisions.
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