CD sales continue to slump, especially in the US where analysts say the final quarter of 2008 could see the highest sales decline in the history of the physical format. US CD sales were falling a mid-teens percentage earlier in the year, but look to fall up to 27% in this quarter. The previous highest decline was 21% back in early 2007.
Of course optimists would point out that all US record companies are now reporting a rise in digital music sales, and only this week Atlantic Records in the States announced digital sales now accounted for more than half their revenues. Pessimists, however, will note reports that even when digital is taken into account over-all album sales are down 15.6% this quarter.
Though the 'glass half full' brigade would point out that the single track market is bigger in the digital domain, so the overall picture may not be quite as gloomy as that 15.6% album decline stat suggests.