👍 The End of Owning Music: How CDs and Downloads Died

As streaming gives the music industry its biggest profits in a decade, the CD business continues to plunge. CD sales have fallen 80 percent in the past decade, from roughly 450 million to 89 million. Since Tesla began manufacturing cars without CD players, other companies like Ford and Toyota have recently followed. Downloads – once seen as the CD’s replacement – have plummeted 58 percent since peaking in 2012, their profits now even smaller than physical sales. Artists have taken note; Bruce Springsteen released his latest box set, The Album Collection Vol. 2, 1987-1996, exclusively on vinyl, with no CD option, unlike 2014’s Vol. 1. “It’s a streaming world and a vinyl world with a quickly diminishing CD,” says Daniel Glass, president of Glassnote Records, indie-label home of Mumford & Sons and Phoenix.