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Record Stores in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Record Stores Market Research Report | NAICS 45122 | Jan 2014

Facing the music: Brick-and-mortar stores get burned from online music sales

IBISWorld’s Record Stores market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 09-14
-7.4%
Annual Growth 14-19
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Profit
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Employment
20,161
Businesses
4,051
Industry Analysis & Industry Trends

Though the economy is set to improve over the next five years, the Record Stores industry will not likewise improve. Competition from big-box stores and streaming music websites will continue to dominate the market for music, with consumers placing an emphasis on convenience and price. The overall increase in disposable income and consumer sentiment will help slow the industry's decline, and some record stores will establish online storefronts to supplement their revenue, but these factors will not stop the industry's downward slide... purchase to read more

Industry Report - Industry Products Chapter

Music

Compact discs (CDs), records, tapes and audiobooks all fall under the industry's music segment, and together represent an estimated 54.2% of total industry revenue in 2014. Although music remains the primary product sold at record stores, music sales as a percent of revenue has fallen over the past five years. This decline began in 2003 as many consumers switched their music purchasing from the physical form to a digital form, thus bypassing their visits to the brick-and-mortar record stores. Consumers who still buy physical music media can choose to buy from record stores or from several outside competitors, such as discount electronics retailers like Best Buy and mass merchandisers like Walmart... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Record Stores Industry?

Record stores primarily retail prerecorded audio and videotapes, compact discs (CDs), digital video discs (DVDs) and phonograph records. Online sales are excluded from this industry.

Industry Products
Compact Discs (CDs) and AudiotapesDigital Video Discs (DVDs)Vinyl
 
Industry Activities
prerecorded music prerecorded videos


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