So I’m a tad late to stumble upon this news but it’s so jaw dropping awful that maybe it was better that I missed it the first time around. Besides for the work I do with music, I’m an App Developer and I thought we had it rough but I’m feeling pretty peachy right about now.
“Of the eight million unique digital tracks sold in 2011 the large majority for $0.99 or $1.29 through the iTunes Store, 94 percent – 7.5 million tracks – sold fewer than one hundred units, and an astonishing 32 percent sold only one copy. Yes, that’s right: of all the tracks that sold at least one copy, about a third sold EXACTLY one copy.”
Ahhh. But this is only the tip of the iceberg. You have to read the rest of this story ASAP via Lefsetz Letter » Blog Archive » The Most Important Thing You Will Read All Day.