Rock, Older Buyers Rule in Depressed Music Market
LOS ANGELES (Reuters) – Rock and roll never dies, but it’s getting older.
According to a survey by the Recording Industry Associationof America, rock held steady as the most popular genre in 2002 while those over age 45 emerged as the steadiest music buyers in a depressed market.
The survey, released on Thursday, also found that 2002 was the first year that more CDs were sold at discount department stores and consumer electronics outlets than specialty record stores.
Earlier this year, the RIAA reported that year-end shipments of CDs, DVDs and tapes totaled $12.6 billion in 2002, down 8 percent from $13.7 billion in 2001.
The embattled record industry blames that drop in large part on unauthorized online file-sharing services, which allow fans to copy and swap music for free.
Experts also cite the economy, competition from video games and a decline in runaway hits as factors behind the slump.
The RIAA survey found that consumers aged 10 to 14 years old represented 8.9 percent of the market, compared with 8.5 percent in 2001.
Purchases by fans 45 and up rose to 25.5 percent from 23.7 percent a year earlier, the survey said.
Rock reigned as the music purchased most, representing 24.7 percent of the market, the survey said, followed by rap or hip-hop and urban/R&B recordings.
Purchases at outlets other than specialty music stores grew from 42.4 percent in 2001 to 50.7 percent in 2002, the survey said.
The RIAA represents the world’s major record labels, including AOL Time Warner, EMI Group Plc, Bertelsmann AG, Vivendi Universal Universal Music and Sony Corp.
Peter D. Hart Research Associates conducted the survey of more than 3,000 music consumers in the United States.
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