Music Products Sales In U.S. Hit Record $7.3 Billion In 2004
NAMM (the International Music Products Association) released the results of a national survey that reveals a record-setting level of musical instrument and product sales in 2004. Joe Lamond, President and CEO of NAMM, noted that sales in the U.S. last year hit an all-time high of $7.353 billion.
The record-setting number represents a 5.2 percent increase over 2003, reflecting unprecedented consumer interest in making music. Dramatic sales increases were scored in fretted instruments, with acoustic guitars surging 38.6 percent over last year and electric guitars rising 43.5 percent. In addition, double-digit unit sales increases occurred with drum kits, portable keyboards and digital pianos.
The annual survey, commissioned by NAMM and conducted by the industry publication The Music Trades, is an annual comprehensive study that includes instruments ranging from cutting-edge computer hardware to violins based on 300-year-old designs. The complete results of the survey will appear in the April issue of The Music Trades and will be re-published in NAMM's annual MUSIC USA statistical volume this summer. The increased sales appeared in virtually all industry segments, with 31 out of 54 product categories posting increases in dollar volume.
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