Recording Industry Booming: The U.S. recording industry...

Recording Industry Booming: The U.S. recording industry sold $6.25 billion worth of records, tapes and compact discs in 1988, according to figures released by the Recording Industry Assn. Sales increased by 8% over 1987, and the total of 761.9 million units sold surpassed the industry’s previous high water mark set in 1978. Once again, there was a dramatic increase in the sale of compact discs--up 47%--and a steep decline in vinyl LP sales--down 32%.