RIAA: Latin Music Shipments Up 13%
April 20, 2006 at 11:12 AM (PT)
According to the RIAA, shipments of Latin music CDs grew by 13% in 2005, representing a 15% increase in value. Total Latin music shipments to retail jumped 14% (55.6 million units in 2005 compared to 48.6 million in 2004), which translates into a 16% growth in dollar value.
DVD music video shipments also increased steadily, experiencing a 34% gain in units shipped to retail and a 35% increase in dollar value, compared to the previous year. The total suggested list price for the industry was $753.7 million. The total wholesale value of the industry was $463.8 million.
"Fueled by the emergence of Reggaeton, strong musical acts and stepped up anti-piracy enforcement, Latin music is again enjoying a very good year," said RIAA VP/Latin Music RAFAEL FERNANDEZ. "New artists and emerging formats are invigorating the Latin music scene and exposing Latin music to new fans."
Due to the growth and popularity of Reggaeton, the subgenre of "Urban Latin" has been added to the RIAA shipment report.