Classical CD Retailer ArkivMusic Saw 30% Sales Jump in 2007Authored by Mark Hefflinger on January 9, 2008 - 1:30pm.
Bryn Mawr, Pa. - ArkivMusic, an online retailer of classical music CDs that counts over 82,000 titles, including many formerly out-of-print albums, announced on Wednesday that it bucked the music industry's overall downward trend, reporting record revenues and 30% year-over-year growth in 2007. By contrast, U.S. album sales were down 15% last year, according to SoundScan. " This was the best year overall for our business, and another successive year of accelerated growth," said ArkivMusic president Eric Feidner. The company added that 10% of sales in the fourth quarter came from its ArkivCD program, which offers on-demand printing of nearly 5,000 out-of-print titles.
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