Many retailers expect dismal music sales for the upcoming holiday season.
Press Release Service – Wired PR News – Music retailers are reportedly anticipating low music sales this upcoming holiday season, despite projecting them to be better than sales for the earlier part of the year. As reported by Reuters, many have lowered expectations for sales projections due to a weakened economy and other issues.
A purchasing executive at a retail chain is quoted in the report as stating, “Last year was such a bad Christmas for music sales that if we can’t top that, then we’ve got a serious problem on our hands.”
As noted by Reuters, some believe a strong release schedule may be beneficial in preventing a huge sales decline, but others aren’t so certain. Universal Music Group Distribution president/CEO Jim Urie is quoted in the report as stating, “Overall, (U.S. CD sales) are down about 20 percent this year… It may get better due to a strong release schedule, but it won’t provide a major improvement.”
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