Music Retailers Face Tough Holiday Season
From HollywoodReporter.com: "The manager at the front door of the Apple Store in the Grove shopping center in Los Angeles was smiling broadly late Friday afternoon. It was the day after Thanksgiving, the store was swarming with customers and, he said, sales of iPod digital music players were doing very well. "It’s been a very good day," said the manager, who declined to identify himself, citing a company prohibition against speaking to the press. "It’s probably a good day for all retailers." Not necessarily. While Apple shoppers were banking on music’s digital future…things weren’t looking merry and bright for conventional music retailers on "Black Friday" – the traditional opening shot of the Christmas shopping season. This holiday season will be critical for the music business. After experiencing some gains beginning in late 2003, the industry has sagged again recently. Album sales for the year to date have increased just 3.2% over last year, according to the most recent figures from Nielsen SoundScan."