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October CD Sales Down As Economy Struggles With Recession

November 6, 2008 11:00 AM ET

Despite the release of AC/DC's Black Ice, CD sales in October 2008 slumped mightily when compared with the sales from October 2007. On a whole, sales were down 19.4% from last year. While last October produced a more noteworthy list of releases — including Bruce Springsteen's Magic, the Eagles' Long Road Out of Eden, Britney Spears' Blackout and Carrie Underwood's Carnival Ride— this October was no slouch either, with Black Ice and the sustained sales of September releases like T.I.'s Paper Trail and Metallica's Death Magnetic. Comparing September 2008 to September 2007 finds another 20.4% decline. The decline is indicative of what's already going on in the music industry, plus the added influence of an overall economic recession. CD sales were only down 12.7% for the year leading up to the last two months, so the fall of the stock market goes hand in hand with the CD market. November looks somewhat more promising, however, with big ticket releases from Guns N' Roses, Kanye West, David Cook, Beyonce, the Killers and Nickelback.

Related Stories:
Are Retail Exclusives For AC/DC, Eagles, Guns N' Roses Good Business?
The Future of Digital Album Sales: Inside the Launch of MySpace Music
Apple Threatens to Shut Down iTunes If Royalty Rate Rises

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Song Stories

“Bird on a Wire”

Leonard Cohen | 1969

While living on the Greek island of Hydra, Cohen was battling a lingering depression when his girlfriend handed him a guitar and suggested he play something. After spotting a bird on a telephone wire, Cohen wrote this prayer-like song of guilt. First recorded by Judy Collins, it would be performed numerous times by artists incuding Johnny Cash, Joe Cocker and Rita Coolidge. "I'm always knocked out when I hear my songs covered or used in some situation," Cohen told Rolling Stone. "I've never gotten over the fact that people out there like my music."

More Song Stories entries »
 
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