Digital music has hit the roof, so Best Buy is officially pulling the plug on music CDs, and another Target may soon be next. Although CDs remain a relatively popular format worldwide, sales in the U.S. dropped more than 18% last year, prompting Best Buy to drop the format entirely.
Digital music sales overtook physical format sales in 2015, and that trend is likely to continue. Paid subscription services like Spotify and Apple Music are experiencing substantial growth, increasing by more than 60% in 2017.
Best Buy will continue to carry vinyl for the next two years, keeping a commitment it made to vendors. The vinyl will now be merchandised with the turntables, sources suggest.
Sources say that Target has demanded to music suppliers that it wants to be sold on what amounts to a consignment basis. Currently, Target takes the inventory risk by agreeing to pay for any goods it is shipped within 60 days, and must pay to ship back unsold CDs for credit. With consignment, the inventory risk shifts back to the labels.
The full House Appropriations Committee voted to approve FY2018 funding for libraries. By a 28-22 margin, the committee approved the Labor, Health and Human Services, and Education (LHHS) funding bill, which proposes roughly $231 million for the Institute of Museum and Library Services (IMLS)—including $183.6 million for Library Services and Technology Act (LSTA) programs, and $27 million for the Department of Education’s Innovative Approaches to Literacy (IAL) program—essentially at 2017 funding levels.
In addition to saving the IMLS, the LHHS bill includes level funding for the Corporation for Public Broadcasting. However, it funds the Department of Education (DOE) at $66 billion—a cut of $2.4 billion from 2017, which includes the elimination of some important library-related programs, including the DOE’s Striving Readers program. ALA officials said they would work to restore it.
Meanwhile, on July 18, the House Appropriations Committee approved by a 30-21 margin the FY2018 Interior and Environment Appropriations, which includes $145 million each for the NEH and the NEA, roughly equal to FY 2017 funding levels.
The key votes come after President Trump’s call in May to eliminate IMLS and virtually all federal funding for libraries, as well as a host of other vital programs and agencies, including the NEH and the NEA. And, it comes after Congress, earlier in May, passed a belated 2017 budget that actually upped the IMLS, NEH, and NEA budgets.
The tribute series is “Library of Congress Bibliodiscotheque” and it will showcase the music, dance and fashion represented in the national collections. Ms. Gaynor, whose disco hit “I Will Survive” was recently added to the National Recording Registry, is scheduled to perform on May 6 in the Jefferson Building’s Great Hall. That day, she will also be interviewed by the “Good Morning America” anchor Robin Roberts in a symposium
Pop Stars are younger
Drake Will continue to dominate and encompasses the streaming age like no other artist.
People is expected to purchase vinyl records again
In the past five years, the number of times you visit a band’s Wikipedia page can tell if a band is going to break in the next year or so. For instance, about eight months before The Weeknd began to play across radio stations throughout the country, there was a huge spike of views on their Wikipedia page. And there are now firms that create analytics of data of the number of YouTube clips that are played. Another way record labels or representatives of an artist are able to tell if an artist is going to break is through the use of Shazam (an app that identifies the media playing around you). Shazam is able to show the most “Shazamed” song in your particular area.
Previously, record executives would instinctively know this song or artist was going to be a hit. But that led to repetitive-sounding music that often was the same thing time and time again. Now we have songs and artists that sound really distinct, and that diversity is in part because it’s possible for the data and technology to draw attention to people’s taste.
The millennial generation is the first that has been able to experience music almost entirely out of chronology. Because of the internet, we are able to explore any era or kind of music at any time. As a consequence, there are fewer successful albums and more one-hit wonders. Technology has influenced the way we define a successful album. Earlier generations have a tendency to create links with the ownership of music through cassette tape and CDs. At the same time, radio is pulling us in a more conservative direction in terms of playing fewer songs with little diversity.
But the millennial generation associates music and music ownership with the internet and cellphones. For them, the access to music via the internet results in almost a paralyzing effect of having so many choices. For instance, with so many opportunities, if you choose restaurant A, you are missing out on restaurant B, C, or D. It’s similar with music.