Region's music sales dip by $1m

JAMAICA is one of seven countries in the region which when combined saw recorded music sales dip 10 per cent to US$9 million ($805 million) in 2009 compared with 2008, according to data released late April by the International Federation of the Phonographic Industry (IFPI).
Its the fourth decline in five years for the Central America and the Caribbean region which included the countries of Barbados, Costa Rica, Dominican Republic, El Salvador, Guatemala, Jamaica, and Panama.
The annual report entitled Recording Industry in Numbers 2010 blamed piracy for the decline in worldwide music sales which was a shift from focusing on the economic downturn and its effect on entertainment in 2008. The IFPI represents the recording industry worldwide with some 1400 members in 66 countries and affiliated industry associations in 45 countries. However, the industry benefited from increased digital music sales although not strong enough to compensate for the fall in physical sales.
"Reducing piracy is critical if these improvements are going to translate into long-term recovery for our global business," Kennedy stated.
In the region, digital music sales in 2009 accounted for 41 per cent of total music sales from only nine per cent the previous year. The US$9 million in sales throughout Central America and the Caribbean comprised physical CD sales at US$4.9 million ($438 million) down 44 per cent over 2008; digital sales at US$3.7 million ($331 million) up an incredible 311 per cent over 2008 and performance rights earnings at US$400,000 ($35.8 million) up 100 per cent over 2008.
The 2009 performance earned the region a world ranking of 47th, 38th and 41st in respect of physical sales, digital sales and performance rights respectively. It was not immediately clear the prior year's ranking, as IFPI did not respond to follow-up queries up to print.
Overall, worldwide recorded music revenues declined 7.2 per cent in 2009 to US$17 billion ($1.52 trillion) with the US and Japan accounting for 80 per cent of the decline.
The UK-born Susan Boyle had the best global selling album of 2009 with I Dreamed a Dream, which sold 8.3 million units, followed by the Black Eyed Peas with The END (The Energy Never Dies), Michael Jackson's This Is It, Taylor Swift's Fearless and Lady Gaga's The Fame.

[Courtesy of Jamaican Observer]