NAMM has released its 2014 Global Report, which offers a snapshot of music industry sales figures for 21 countries. This year’s report includes a first appearance by the Czech Republic and a return of information from the United Kingdom. The report reveals music products industry sales figures, unit-sales information, analysis, and import/export numbers.
Related to Canada, the report states that “overall activity in the Canadian music products market for 2012 (the last year available, as compiled by The Music Trades magazine) was estimated to have increased approximately 1.8 per cent from 2011 levels to US$731 million, ranking Canada sixth overall in the world. The per capita estimate of US$20.93 per person ranks second in the world, just behind the United States. Though statistics for 2013 will not be available until next year, anecdotal evidence suggests the Canadian music products market continued to grow in 2013.”
According the report, imports of MI products to Canada increased in 2013 over 2012 in both unit and dollar terms. Currency exchange and increases in the cost of imports contributed to the nominal value of imports increasing faster than unit imports. The report also states that for 2014, the general mood for the Canadian market remains cautious. An improving American economy should mean stronger export growth for Canadian companies but that a stronger American dollar also means higher prices on imported goods into Canada.
To read the full report, go to http://www.namm.org/files/ihdp-viewer/global-report-2014/.