NAMM Releases its 2017 Global Report for Members

Friday, August 11th, 2017

Screen Shot 2017-08-11 at 2.10.08 PMFor its members, NAMM has released its 2017 Global Report, which highlights industry trends globally and includes snapshots of 25 countries.

“Any doubts about the global nature of the music and sound products business have long since been erased, and with more than 120 countries and regions now attending The NAMM Show, a global perspective of our industry is an ever-increasing need,” says NAMM. The 2017 Global Report features retail sales figures, unit sales information, analysis, and import/export numbers for musical instruments and products.

Statistics are compiled from independent sources from around the world, including The Music Trades magazine and The U.S. Census Bureau. The Canada section of the report was compiled with the help of Canadian Music Trade magazine. This year’s Global Report captures a snapshot of 25 countries, NAMM’s largest narrative to date, including Argentina, Australia, Austria, Brazil, Canada, China, the Czech Republic, Finland, France, Germany, Hungary, India, Italy, Japan, Mexico, the Netherlands, Norway, Russia, South Korea, Spain, Sweden, Switzerland, United Kingdom and the United States. For 2017, data on Belgium was added to this global summary.

In the report, it’s revealed that Canada is the United States’ top export destination for musical products with roughly $325 million in products arriving in Canada annually from its southern neighbour. This is about 20% of the United States’ export value in MI.

Long & McQuade President Steve Long is also quoted in the Canada section of the NAMM Global Report. “There is a lot of online competition in our industry. The expectations of our customers have increased. I often receive emails from customers wondering why a product is taking so long because they can ‘get it from Amazon in five days.’ This is not the reality, as often this is in reference to products that have not even been released yet by the manufacturer. This has also created an opportunity to offer great personalized service that people are not getting when they deal online,” Long says. “Rentals, trade-ins, lessons, financing, repairs and used products are all big market areas for us. Clinics, education and community involvement are all important parts of our marketing efforts. These are the opportunities that allow us to continue to grow. These days, if you have a plan and a program and are willing to work really hard at it, you can succeed. The days of just opening the doors and waiting for customers are gone.”

Year-over-year changes in Canadian imports from 2015 to 2016:

Acoustic Fretted Instruments -8.9%

Bowed Instruments 15.6%

Brass Instruments 14.6%

Electric Instruments (Guitars/Drums) -2.2%

Electronic Keyboards  -2.2%

PA/Recording 2.1%

Percussion Products -1.2%

Pianos 2.0%

Printed Music -8.9%

Strings and Accessories -4.1%

Woodwind / Harmonica / Accordion 5.1%

TOTAL 1.4%

For more information, go to www.namm.org/membership/global-report.