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Nielsen Co. President of Entertainment Eric Weinberg on why after six years of declining, music sales are finally starting to rise.
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Good news here -- music sales beacon of American Idol and are up more than 1% after.
More than six years of declining -- Eric Weinberg is president of entertainment for the -- company joining us now.
To explain hi -- crazy here great to have you so we hear about the resounding success in huge ratings for shows like American Idol the fact that.
Pretty much -- music anywhere on your -- your computer not to mention all the concerts and special music -- out there.
Absolutely it's a great time to be it music stand these days what we're seeing that -- in the results after six years of decline music sales are.
Showing a nice little increase this year it's not time to break out the champagne yet but close to 2% increase year over year in sales.
Is a great start.
How much of it is attributable to all the new technology out there or is it because of some pretty awesome talent -- there's -- lady -- -- -- Adele is amazing -- had a fantastic run she's been number one for eight of the last twelve weeks and I think this week she could be closed the tap again.
But it's more than just one -- one performer we're seeing increasing digital singles increasing digital albums.
And huge growth in catalog sales so it's a great story built on multiple foundations of success catalog sales.
Apple bringing on The Beatles -- right you can buy absolutely that was a huge coup for that.
Apple for EMI -- what it did is it brought a whole new type of consumer to digital consumption.
One of the things we -- worried about last year with a digital sales were flattening off but this year we've seen in close to 10% increase.
In digital single sales which is great so there's this explosion in digital sales as you're describing what I think is fascinating.
Is sort of the flash back to Bible says a lot of -- -- love their vinyl albums records -- sat.
You know I think is when things get digital people enjoy the -- -- -- they like playing with the album they like listening to -- it's a different -- experience what exactly -- -- more -- different sound experience that is at a very nice -- here I wouldn't -- -- to listen -- what can -- I was -- to a final record -- I think -- -- more likely to get -- I think you're more likely to get -- -- -- that absolutely -- BC wood vinyl sales at its huge success among rock albums.
Rock -- constitute the biggest.
Buyers of final.
People like that stuff desolate looking at the aren't they -- the experience when we're younger we say go sit in put -- -- -- and sit around and listen to -- and they really enjoy that so you've got digital access to music you've got these vinyl records.
CD's I mean -- -- physical record go obsolete I think what's great about that the environment today is that there's going to be multiple ways to get music in no one way it's gonna go away.
Digital actually for the first time this year surpassed physical in terms of sales but physical still quite popular particularly if you look at certain types of music like country music.
Physical dominates the sales there so.
The challenge for the music industry -- both the opportunities they need to manage a world where there's physical sales there's digital sales their sites out there you can watch streaming videos.
Everything is available touch and the thing a lot of deal activity buzz around companies like Warner Music Group chart EMI's -- -- bump up in sales that's got to help this this -- -- I think when things we're saying is sisters there's always been a huge interest in music.
Consumption of music remains at an all time high sales have been declining.
So obviously that the timing is right for people to get more action in these assets and -- -- hope that sales continue to grow during the year all right rock on Eric Patrick -- thanks so but Eric Weinberg as the president of entertainment for the Nielsen Co.
