The above chart is adjusted for inflation & population.... So let’s correct the inaccurate conclusions one might reasonably draw from the misleading Bain chart:
Wrong: The music industry is down around 40% from its peak in 1999
Correct: The music industry is down 64% from its peak.
Wrong: At least the music industry is almost 4 times better off than in 1973.
Correct: The music industry is actually down 45% from where it was in 1973.
Wrong: The CD era was the aberration. (Mr. Gruber’s reasonable take)
Correct: The CD peak was only 13% better than the vinyl peak, not over 250% better as the Bain chart implies.
The overall conclusion is that the music industry is actually doing much worse than the Bain chart implies:
10 years ago the average American spent almost 3 times as much on recorded music products as they do today.
26 years ago they spent almost twice as much as they do today.