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Mid-year Latin music stats
By Jon Newton, p2pnet.net
(more articles from this author)
2002-08-20
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Music Industry News - as it happens
Source: Mi2N - August 19, 2002

Shipments in the Latin music market decreased sharply in the first half of 2002. However, Latin music video shipments enjoyed a considerable growth in popularity as shipments compared to mid-year 2001 increased 215%t and DVD's grew 715%.

Overall US shipments of Latin music in the first half of 2002 decreased 26% compared to mid-year 2001. Net unit shipments went from 25.6 million at mid-year 2001 to 18.9 million units shipped by mid-year 2002. The dollar value of Latin music market shipments also decreased, down 24% from $329.3 million dollar value at mid-year 2001 to $249.5 million dollar value at mid-year 2002.

The stats, in a report compiled for the Recording Industry Association of America (RIAA) by PricewaterhouseCoopers, went on that Latin music CD shipments and dollar value dropped 20% from mid-year 2001. In the first six months of 2002, 17.4 million Latin music CDs were shipped compared to mid-year 2001's 21.6 million figure. The dollar value of CDs also decreased, from $292.4 million at mid-year 2001 to $234.3 million at mid-year 2002.

Continuing the downward trend in demand for cassettes, says the report, the first half of 2002 saw cassette unit shipments in the Latin music market decrease by 66% from mid-year 2001 when 4 million cassette units were shipped. By mid-year 2002, 1.3 million units were shipped. Similarly, the dollar value of cassette shipments decreased from $36.2 million at mid-year 2001 to $11.8 million at mid-year 2002-a 67 percent decrease.

Latin music video shipments enjoyed a considerable growth in popularity, however, as shipments compared to mid-year 2001 increased 215 percent. 11,000 net units were shipped at mid-year 2001 and 33,000 net units were shipped at mid-year 2002. This shift represented a 192 percent increase in dollar value from $190,000 at mid-year 2001 to $556,000 at mid-year 2002.

The association says net shipments of Latin music DVDs were also a bright spot. Though a small percentage of the Latin music market, demand for this format is growing to make it a larger portion of the market. At mid-year 2001, 16,000 units were shipped. However, shipments increased to 131,000 by mid-year 2002-a 715 percent increase. The dollar value of Latin music DVDs increased as well. Whereas at mid-year 2001, shipments represented $443,000, at mid-year 2002 shipments represented $2.9 million-a 563% increase.

Related News from Mi2N:
» Recording Industry Releases 2002 Mid-Year Latin Music Statistics


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