Infographics can be fun, and this one is particularly relevant to us–that is, the music community. With our seemingly endless access–legal or not–to free music through services like YouTube, sales of physical work have declined. By and large consumers have stopped paying for music, and it seems like the end of both local and chain record stores is on the horizon.
According to the Wall Street Journal, record store sales are slated to drop 77.4 percent by 2016. El-P even talked about this recently, in addition to redefining what a ‘record label’ is. Last year digital sales increased by eight percent–most sales of Channel Orange have not been physical–which accounted for $5.2 billion in legal downloads.