Mumford & Sons' 'Babel' Leads the Field in 2012 Sales
Around 159,000 copies of the album were sold in the first week of its release in the UK, which propelled it to the number one spot on the sales chart in the region. It sold 600,000 more copies in the US during the same time period and enabled the folk rock band to top the sales charts there too.
"Babel" also set a new US record on Spotify.com for the highest number of streams from an album in a week. According to the website's chief content officer Ken Parks, songs from the second Mumford & Sons' albums were streamed around eight million times within the first week of its release. Moreover, 10 percent of Spotify's US visitors at least streamed one of Babel's fifteen tracks. It should be noted that this particular streaming website has a monthly traffic of around 15 million.
In the recent past, some big-name artists such as Coldplay prevented their new collections from being made available on Spotify and other similar websites. But Babel's remarkable performance in both digital and conventional markets has silenced those who believe that subscription services negatively affect a music album's physical sales.
However, the issue of Spotify paying lower royalty amounts to record companies and artists is still pretty much there. Daniel Glass, the founder of Glassnote Records (Mumfords' American label), admits that the digital streaming isn't as profitable as the conventional method but he believes overlooking it due to that reason is not an option.
"Spotify is a huge form of exposure, and they're not stealing. It's retraining people to buy music through streaming services. Could we be getting better compensation? Yes, but I'm not going to hold it back from them. That's old thinking," Glass told the LA Times.
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