Classic Albums Selling More Than New Albums
. (Classic Rock) 'Old' albums outsold current releases on iTunes in America last year, new figures reveal. Music Business Worldwide reports that it is the first time catalogue releases have sold more than new albums over the course of a full year - with a previous victory for old records during one month in 2012 considered a "momentary blip."
One example of a catalogue album selling well is Tom Petty And The Heartbreakers' Greatest Hits - originally released in 1993 - which is currently in the iTunes top 100 albums chart.
Industry expert Tim Ingham says it's a worrying trend for the music business and adds that it's only a matter of time before catalogue records outsell new releases on physical formats such as CD and vinyl as well as online.
He says: "Such data asks two very clear questions of record labels: are people merely starting to consume their new music on streaming services rather than buying it in album form? Or are they increasingly less impressed with the new album releases that arrive year-in, year-out?" Read more here.
Classic Rock Magazine is an official news provider for antiMusic.com.