By the 1990s, the CD reigned supreme. As the economy boomed, annual global sales surpassed 1bn in 1992 and 2bn in 1996, and the profit margins were the stuff of dreams. The CD was cheaper than vinyl to manufacture, transport and rack in stores, while selling for up to twice as much. Even as costs fell, prices rose.
The popular music industry peaked financially in 1996 but had creatively begun bottoming out years before that. Digital file sharing of lossily (and later losslessly) compressed formats simply burst the bubble of the industry’s festering corpse the ignorant had mistaken to still be moving as the putrefying gases bloated body cavities.19 Comments