Canadian Sound Recording Industry Suffers Loss

The Canadian sound recording industry experienced its worst financial performance in six years in 2003 in the wake of bleak sales, declining new releases and a huge drop in profits….In total, Canadian labels reported just over $708.7 million in revenue from the sale of recordings. This was 17.7% below the level in 2000 and 20.5% below the peak in 1998. It was a hard year for Canadian artists whose sales plunged 20.0% between 2000 and 2003 to just under $110.4 million….Rock and popular music genres were still by far the most popular. But their share of the market dropped as consumer tastes shifted slightly to classical, country, jazz and blues.
* Statistics Canada