Retail sales of recorded music in the United Kingdom sagged by an unprecedented 13% in the first three months of 2003, according to figures released May 14 by the British Phonographic Industry (BPI). British music fans spent £216 million ($351 million) in the first quarter of this year, compared to £249 million ($404.6 million) in the same period a year ago. In unit sales, albums in the UK declined only 4.8% to 44 million, but prices dropped 9.4%. UK album sales totaled £200 million ($324.9 million); singles were off 42%, accounting for only £16.2 million ($26.3 million).
Apple's unexpected initial success with its iTunes subscription music service shocked and pleased many in the music industry—and appears likely to prompt a rash of imitators.
Music sales in the US continue to decline, according to a May 8 report from the National Association of Recording Merchandisers (NARM). Retails sales totaled $8.93 billion in 2002, down from the $10.46 billion reported for 2000. Most (87%) of the organization's members reported a drop in music sales last year—only 13% posted higher totals.
Students are often described as people with more time than money. For four accused by the recording industry of being "nodes" for file sharing, the lack of money will almost certainly extend well beyond graduation day.
Tuesday, May 6, 2003 could be a turning point in the contentious history of recording artists and record labels. On that day, hundreds of American musicians will converge on Albany, NY in support of the Artistic Freedom Act of 2003. If passed, the bill would give artists unprecedented freedom in negotiating and terminating recording contracts.
Federal judges have issued somewhat conflicting rulings in the ongoing legal battle over illegitimate file sharing. As the situation stands at the end of April, individuals may be held responsible for copyright violation, but the services they use in the process may not.
Recent financial reports from the consumer electronics industry are all over the map, with some manufacturers reporting declines while others report gains. Sony and Samsung have both posted losses, but Toshiba and JVC made money. Pioneer is holding steady.