Piracy Plagues Latin Music
Music Industry News - as it happens
Source: Mi2N - March 13, 2002
According to recent stats, Latin artists may be going from livin' la vida loca to catching some R&R.
While superstars such as Ricky Martin, Enrique Iglesias and Marc Anthony led 2000/2001's invasion, with Latin CD shipments up 9% at the end of last year, recent calculations show the genre's growth to be slowing ˆ a downslide directly attributed to ongoing piracy issues and a decrease in cassette sales.
Yet industry professionals are still optimistic about the outlook.
"Latin music is still a growing market, " commented RIAA President and CEO Hilary B. Rosen. "...and 2001 sales, while not as strong as previous years, still were very positive compared to the rest of the music industry."
Over 42.3 million Latin albums were shipped in 2001, compared to the 38.8 million sent off in 2000. That also coincides with an increase in compact disc dollar value, which grew from 516.6 million in 2000 to 582.7 in 2001. But although the disappearance of cassettes is pertinent, CD piracy has become a magnum force in regards to album sales, and whopping percentages of pirate discs create marketing music, in general, into a difficult task.
"Although the Latin music market is vibrant, it's not immune to the forces of piracy harming the music industry today, particularly with CD's," said Rosen. "Over 24 percent of the illegal product we seized in 2001 was from the Latin music genre. This number represents a share of piracy much larger than its own share of the legitimate market."
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» Recording Industry Releases 2001 Latin Music Statistics