The End of Owning Music: How CDs and Downloads Died
"If you visited Austin’s Waterloo Records recently, you might have noticed a construction project that was unthinkable not so long ago: The 36-year-old Austin music staple was replacing 24 feet of CD racks with space for more vinyl. “After 30 years of CDs, a lot of people are moving on from that format,” says Waterloo owner John Kunz. “Whether they’re going back to vinyl, or streaming, people are selling off those CDs.”
Streaming service launches global publishing business in a possible harbinger of streaming music's future. 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."