Music Updates

The Year the Bubble Burst: How 2001 Mega Contracts For Whitney Houston and Mariah Carey Signaled a Shift in the Music Business

In the year or so it took the industry to admit file-sharing wasn’t a problem that could simply be sued away, some labels found themselves additionally hindered by business practices based on the heyday of the late 1990s. And executives can’t really be faulted for that: of the 115 certified Diamond albums (10 million or more units sold) in RIAA history, at least 46 were released between 1990 and 1999 (in fairness, a significant number of them belong to Garth Brooks). Of those, 26 are from the years 1995 to 1999, and were certified Diamond in just a few years. In comparison, there’ve been less than 20 Diamond albums released since 2000 total, and only two studio releases since 2010 — both by Adele.

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