 1st Quarter Data Shows M.I. Market Is Not Slowing
Most economists believe a fall in retail sales marks the beginning of an economic downturn. And judging from the latest round of quarterly numbers from the country’s largest retailers, the U.S. economy is clearly headed for a contraction. Consider some of the numbers presented by big-name retailers for the latest quarter: The Gap (-4%), Dillard’s (-2%), J.C. Penney (-6.7%), Sears (-4.5%), Kohl’s (-3.8%), Radio Shack (-6.7%), and Zales (-7.3%). Contrasting these grim figures, music retailers reporting to The Music Trades’ first quarter sales report not only beat out these large mega-retailers, but chalked up impressive results that drove overall industry sales up 2.4%. For the three-month period ending March 30, the music industry reported sales of $1.32 billion compared to $1.29 billion in the same period a year ago. The first three months of the year are hardly the strongest for music retailers. However, they are a bellwether that portends what may be lurking over the horizon. Consider some of the sales trends of 2007. Dismal results for the entire keyboard industry during the first quarter of 2007 continued unabated for the next three quarters with sales dropping in the high single digits every reporting period. Those negative numbers swung positive for the first quarter of this year: +1.3% Grand Pianos, +3.4% Vertical Pianos, +1.7% Digital Pianos, +5% Portable Keyboard, +5.5% Home Organs, and +7%, Church Organs. “We were up 19% this quarter, and I can tell you the economy in Florida had nothing to do with it,” explained a retailer from the Gulf Coast of Florida. “An expanded showroom and better execution of new selling events drove our business.” READ MORE  New Research On The School Music Market
Why They Join, Why They Quit, What They Think. Exclusive consumer research offers new insights into the the motivation of school music students, and demonstrates how what happens in school affects every segment of the music industry. The school music phenomenon traces its roots back to the early ’20s, when an ad hoc coalition of pioneering educators, intellectuals, and instrument makers began persuading the public that studying music was an unambiguously beneficial activity. In the ensuing eight decades, school music programs have flourished across the U.S. They have also received no end of scrutiny: Educators have exhaustively studied how to best structure programs, retailers and manufacturers continually explore how to effectively attract and retain more students, and there’s even a large body of scientific research on how music programs effect children’s physical and mental well-being. The one aspect of school music that has surprisingly received little attention is, what do the students think? To address this gap, last year The Music Trades conducted a groundbreaking survey of nearly 5,800 students in 20 states, from grades four through 12, who had participated in school music programs. In any survey, most of the findings are unsurprising and tend to confirm conventional wisdom. The following music student survey is no exception. Responses underscoring the influence of the educator and the importance of the social aspect of music programs will hardly be seen as news to retailers and their sales staffs. However, the results underscore the durable appeal of school music programs in their many forms, and illustrate how school music actually benefits the sale of all other music products.
The single most essential question in this analysis is what makes students decide to sign up for band or orchestra. Survey respondents offered a variety of reasons, ranging from “I though it was exciting,” to “It would help my grade point average.” However, the two most common reasons cited were “I wanted to play music”(31%) and “My parents encouraged me to join”(40%). 20% said they signed up because the program at their school had a high “cool” factor. The responses probably understate the importance of parental influence, because no fewer than 66% of survey respondents reported that their parents had also been involved in school music.....READ MORE  Vic Firth Honored For Bringing Jobs To Maine
Vic Firth Inc. is the 2008 recipient of the Maine Wood Products Association’s Pine Tree Award. The award is presented each year to a Maine-based wood products manufacturing company that has taken innovative steps in the past two years to strengthen its business. Vic Firth Inc.’s continued investment in its Newport, Maine, manufacturing facility, coupled with its ongoing expansion of two diverse product lines and increasing annual sales, were deciding factors in the company’s selection for the award.,...READ MORE
2007 Industry Sales Data Now Available In Excel SpreadSheets
Investing in continued growth, the D’Addario company has opened an expanded distribution center to provide more timely and cost-effective deliveries. Simultaneously, the diversified accessory manufacturer has formed a joint venture with American Alloy Wire to produce the coated wire for the D’Addario EXP line of instrument strings. With a 1,700-foot long conveyor and 200 individual bays, D’Addario’s new distribution center incorporates state of the art logistics technology. Housed in a 52,000-square-foot building near D’Addario’s manufacturing complex in Farmingdale, New York, the operation is capable of nearly doubling the company’s order process output. For retailers, this ensures that same-day shipping for all orders of D’Addario strings, Evans heads, Planet Waves accessories, and Rico reeds received by 3:00 p.m. Eastern Standard Time.
“This is a very exciting time for our company,” commented Rick Drumm, D’Addario & Company President. ..... READ MORE |
