Tuesday, August 18, 2009
Not Dead Yet! The CD Still Rules Music (But iTunes Is Closing the Gap).
Ready to toss dirt on the old, unloved CD? You’re going to have to wait a while. Compact discs are increasingly hard to find (at least in physical stores), but someone out there keeps buying them: The ancient format still makes up the majority of music sales in the U.S. And since album-length CDs are a whole lot more lucrative for the industry than iTunes singles, expect to see the industry cling to them as long it can get away with it.
Last year, Warner Music Group boasted about its investments in two digital music start-ups. Today the label says those dollars were wasted. Bummer for imeem, which is trying to raise more money.
