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Article: The top 125: America's leading music products suppliers.
- Article from:
- Music Trades
- Article date:
- April 1, 2002
CopyrightCOPYRIGHT 2002 Music Trades Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The challenging economic climate in 2001 was amply reflected in the sales results of the industry's 125 largest suppliers. A slumping stock market, jittery consumers, and the terrorist attack of September 11th collectively resulted in a 3% sales decline for the year. The dip closely tracks larger industry sales trends, as outlined in the Music Industry Census. Given the well documented economic woes in the year, it's hardly surprising that most industry suppliers struggled. What is startling and unexpected, however, is the precipitous 10.5% drop in employment levels. Head counts are always reduced in cyclical downturns, but a reduction of this magnitude reflects a larger ...