STACKING UP SALES
Total album and single sales of CDs and cassettes for the week ended Aug. 7, compared to week-ago and year-ago levels, in millions of units sold:
Latest week: Albums: 11.0 Singles: 2.2
Week-ago: Albums: 11.2 Singles: 2.0
Year-ago: Albums: 10.6 Singles: 2.8
Hits Magazine Tip of the Week
Questions over the future role of founder David Geffen aren’t having an adverse effect on Geffen Records. This week, the label signed Lisa Loeb, who currently has the No. 1 single from the “Reality Bites” soundtrack. Geffen is also very close to inking highly coveted Chicago band Veruca Salt, which would join recently signed bands Elastica and Loud Lucy. The label is also heating up the marketplace as Counting Crows continues its Top Five sales and Weezer, Jackyl and Tesla show signs of hitting it big. Best news of all for Geffen is the impending releases from the Eagles and Aerosmith and a much-anticipated Nirvana compilation.
Note: Hits magazine is a weekly music industry trade publication.
Source: Soundscan Inc.