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Annual music album sales in the United States dropped by roughly percent between 2019 and 2021, amounting to just *** million in the most recent year. This number decreased further to just *** million in the U.S. in 2022. In 2013, sales amounted to million units, a number which had already noticeably decreased from the *** million units sold in 2011.

Annual music album sales - additional information

The past decade has brought along many changes, both technological and societal, which have forever changed the face of the global music industry. Today, music superstars, such as Beyonce, who was the highest paid musician in the United States in 2016, have money, coverage in all possible mediums, and power like never before. However, as of 2015, the worldwide revenue generated by the music business stood at **** billion U.S. dollars, some **** billion less than in 2002.

It seems that the internet, the magical tool that is responsible for the creation of so many music celebrities, might also be responsible for the dismal statistics surrounding the sale of music albums in the United States, once the main revenue stream in the business. As the data shows, annual music album sales in the United States have plummeted from *** million units sold in 2007 to under *** million units sold in 2017. At the same time, digital music revenues, especially from album and single downloads, as well as subscription and streaming services, have been steadily growing in the past years. The fall in record sales is attributed to the rise of illegal music downloading, but also to legal services, which provide music products without the additional costs of production and shipping.

Despite changes in the way Americans acquire music, U.S. consumers still enjoy and value music industry products. Recent studies show that more consumers are choosing to use a legal alternative to file sharing, mainly digital music streaming services, such as online radio services like Pandora and Spotify. Additionally, musicians reorient themselves from album sales towards live performances and business deals to boost their incomes. As of 2017, the sales revenue from concert tickets in North America was at an all-time high, with revenue hit billion U.S. dollars for the first time.