Published Aug 19, 2010Unless the major labels finally figure out a way to right themselves, expect stories like this to keep rolling in: once again, album sales have hit their lowest point ever.
As Billboard reports, Nielsen SoundScan has tracked sales of just 4.95 million units for the week ending August 15. This is the lowest number since the company began following sales data in 1991. The previous low came earlier this year, when 4.98 million units were sold during the week ending May 30.
Back in May, Nielsen Entertainment president Eric Weinberg said, "While there's a lot of talk of declining album sales, a number of highly anticipated albums are scheduled for release in the next few months and we expect sales to trend upward." Unfortunately, the upward trend didn't last long.
This gloomy statistic comes hot on the heels of a triumphant week for Arcade Fire, who recently topped Eminem for chart supremacy. Eminem has since returned to No. 1, where he is expected to stay next week. The industry is looking to new releases by Kem, Iron Maiden, Ray LaMontagne and Trace Adkins to help boost sales next week.