This year has proved to be once again a week and financially week year for the record industry. In order to break even with just last years numbers, over 200 million copies must be sold in this last quarter. The 3rd quarter of this year totaled 297.9 million albums sold, which is 12 percent less than year. In 2007 there were 500.5 million albums, 30 percent of coming from the fourth quarter. So… will this fourth quarter pay off?
It certainly has enough big name releases to give it a chance. With albums from Kanye West, 50 Cent, Jay-Z, Ludacris, Busta Rhymes and possibly Dr. Dre, Eminem and Andre 3000 all coming up this year at least equaling last years numbers is certainly in reach.
Labels are worried as major retailers like Wal-Mart, Target, Best Buy and Circuit City have their stock down 82 percent and may be on the verge of bankruptcy. On the upside, sales are up as albums from Lil Wayne, Young Jeezy and T.I. all are selling extremely well.