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State of the Canadian music/record label industry
Labels: Canada, Digital, Music, Radio, Record industry trends
As the Canadian music industry prepares for the CMW Conference in Toronto next month, the mood will be mixed. Radio realises it is holding steady (in terms of overall listening patterns, including total hours) despite all the digital pressures. Revenues are up and investment in new media extension projects continue to happen. Compared to the U.S., Canadian radio certainly seems more robust.
As the Jointblog pointed out last summer, there are substantial media trend differences between the Canadian and U.S. radio industries lately.
The Canadian record industry, though, is feeling the same hurt as their U.S. counterparts, with all majors making tough staff cuts in operations to counter changes in retail sales. According to Nielsen Soundscan Canada and Nielsen BDS airplay monitoring analysis of the record industry in 2006:> Overall music purchases were up nearly 10% from 2005.
Hold on because it's still a bumpy ride.
> Nearly 15 million digital tracks were purchased; an increase of 122% over 2005.
> The top 200 tracks accounted for nearly 20% of all track purchases.
> However, overall Album sales (including Albums and Track Equivalent Album sales) declined 3.2% compared to 2005.
> Total album sales declined 4.7% compared to 2005.
> Chain music stores accounted for 66% of all album sales, down from 71% in 2005.
> Classical and Country albums were the only two genres that gained in sales over 2005; up 21% and 15% respectively.
> Consistent with the previous two years, 25% of total album sales occurred during the Holiday Season (last 6 weeks of year).
posted by Unknown @ Saturday, February 10, 2007,
