Sales down almost eight percent in first half of 2005

Gloom returned to the record business in the first half of 2005, as album sales dropped 7.6 percent compared with the same period last year, despite blockbusters from 50 Cent, Mariah Carey and Coldplay.

In 2004, a two percent rise in sales from the previous year encouraged many that, after a three-year slump, the record industry might be on the road to recovery. But now the gains look more like a blip than a turnaround. "Everybody involved in the music industry
is concerned, because there’s a problem and it doesn’t seem like it’s being fixed," says the Firm’s Daniel Field, manager of Audioslave and Weezer, who hit Number One and Two, respectively, on the pop charts in early summer. "You walk into a record store and you can just feel it."

Read the Rolling Stone article.

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