Greatest Hits Albums, Once a Must Purchase, Have Lost Their Mojo

Looking at the roster of top-selling records, you could easily think greatest hits albums are doing better than ever. As of September, two dozen had made it onto the music industry’s list of the 200 bestsellers this year, compared with only 10 in 2010.

In reality, the cultural and economic might of collections like the Eagles’ Their Greatest Hits (1971-1975), the all-time bestseller in the US, has declined dramatically in recent years. Purchases have tumbled as streaming replaced CDs and digital purchases as the primary way people consume music. These once-mainstream releases are now viewed primarily as a novelty item — designed for superfans and their vinyl or CD collections, often with dressy packaging and a price that can top $100.