CEA Stats: Lights Back On In Audio
By Joseph Palenchar -- TWICE, 6/7/2004
ARLINGTON, VA. — A sharp rebound in factory-level audio sales in March and the first-quarter holds out the hope — however naïve — that the industry could post its first annual increase in 2004 after three consecutive years of decline.
March sales jumped 34.7 percent to $695.1 million, helping drive up first-quarter sales by 16.7 percent to $1.627 billion, CEA statistics show. The first-quarter gain was the industry's first in four years.
Despite the advances, March sales were below their 2001 peak of $766.9 million, and first-quarter sales were below their 1995 peak of $1.85 billion, CEA statistics show.
March's gain followed single-digit gains in January and February of 8.8 percent and 3.3 percent, respectively.
Here's how each category fared:
Component audio: March's industry gains were led by a rebounding component audio business, which grew an astounding 68.9 percent in March to $116 million and by 26.2 percent in the first quarter to $257.7 million, following a full-year 2003 decline of 18.4 percent. Despite the gains, first-quarter component sales were below levels posted in every year in the 1990s and 2000s except for 2003.
Portable audio: Portables sales, including home radios, shot up 47.9 percent in March to $183.3 million and by 37.1 percent in the first quarter to $400.2 million.
Home audio systems: Sales skyrocketed 42.4 percent in March to $151.5 million, but declines in January and February held back first-quarter growth to 7.4 percent. First-quarter volume was $331.3 million.
Total home audio: Combined sales of home components and systems rose 52.8 percent in March to $267.5 million and 14.9 percent in the first quarter to $589 million, but first-quarter sales were still below their 1995 peak of $747.7 million.
Autosound: Aftermarket sales jumped 12.6 percent in March to $244.4 million, helping drive up first-quarter sales by 8.1 percent to a record $637.7 million.
March, Q1 Audio Sales(Factory level, in millions, 2003)
| March | 1st Qtr. | |
| Portables1 | $183.3 (+47.9%) | $400.2 (+37.1%) |
| Home Components2 | $116.0 (+68.9) | $257.7 (+26.2%) |
| Home Systems3 | $151.5 (+42.4%) | $331.3 (+7.4%) |
| Aftermarket Autosound | $244.4 (+12.6%) | $637.7 (+8.1%) |
| Total Audio | $695.1 (+34.7%) | $1,626.9 (+16.7%) |
| (1) includes home radios (2) Consists of electronic components, speakers (3) Consists of shelf, rack and home-theater-in-a-box electronics/speaker systems | ||
Q1 Audio Sales
(Factory level, in millions, 1998-2004)
| 1998 | $1,643.1 (-3.9%) |
| 1999 | $1,592.6 (-3.1%) |
| 2000 | $1,780.8 (+11.8%) |
| 2001 | $1,760.0 (-1.2%) |
| 2002 | $1,593.2 (-9.5%) |
| 2003 | $1,394.4 (-12.5%) |
| 2004 | $1,626.9 (+16.7%) |
| Source: CEA, Arlington, Va. ©TWICE 2004 | |
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