Chapter 7The U.S. Industry Numbers
Contents
Sales Trends
In the early 1990s, the recording industry was in the midst of a replacement cycle, where consumers were in the process of replacing their old vinyl and cassette collections with the first digital format—the compact disc (CD). In 1994, there was a 20% increase in sales, to over $12 billion. This boom was fueled by discount retailers such as Best Buy and Circuit City aggressively entering the music market, opening up a multitude of retail outlets, and using discounted CD prices as a loss leader to attract customers. These practices, along with the concept of selling ...
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