StatsCan Figures Illustrate Canadian Music Industry Woes
October 27, 2005 at 11:51 AM (PT)
STATISTICS CANADA's latest report on the Canadian music industry paints a grim picture of declining sales. STATSCAN's report says that overall music sales fell to C$708.7 million in 2003, off 20.5% since 1998, declining steadily over a six year span. Canadian artists also fell from C$154 million in 2998 to $110 million in 2003. Rock and pop music lost market share over the same period, from 73% to 67% of all sales. STATSCAN blames the drop on illegal downloading/swapping and increased media competition.
Read more from STATSCAN by clicking here.