NAMM members can now download the 2018 NAMM Global Report, a detailed resource to find the latest industry trends and opportunities. In the report, there is a comprehensive list of sales figures, unit sales information, analysis and import/export numbers for music instrument products. This year's statistics consists of data from more than 25 countries and regions, which is the largest report NAMM has created to date. NAMM provides this information to members in hopes to help their businesses stay up to date with the industry and help make better business decisions for the future.
As the report is for NAMM members only, or those who pay a fee, CMT cannot share the entire report. However, we have been given permission to share some of its Canada-specific data.
It’s no surprise that the U.S. is the largest market for music products by a large margin. In terms of market sales shares, the U.S. leads with 44.4 per cent, and Canada ranks fifth with 4.5 per cent. Filling out the top five are China at 9.8 per cent, Japan at 6.8 per cent, and Germany at 6 per cent. In 2017, Canada’s music market was valued at $725 million.
Most data is from 2017 and the report offers a lot of insight into the deep connections between the Canadian and American MI markets. In terms of export value, Canada is America’s largest trade partner, accounting for about 26 per cent of the value of music products that the U.S. exports, totalling about $750 million. By contrast, the value of the U.S. music market in 2017 was $7.4 billion.
According to Statistics Canada data shared in the NAMM report, Canada’s imports of musical products were up 4.6 per cent year-over-year from 2016 to 2017.
NAMM members can download the report HERE. Non-members can purchase the 275-page report for $1,000.