Sales Of Home Audio Products Strong In July
Factory sales of home audio products were hot during the month of July, according to the Consumer Electronics Manufacturers Association (CEMA), contributing to strong overall audio revenues of $611 million. Year-to-date sales are just fractionally lower than the first seven months of 1998 with industry revenues of $4.1 billion. The separate audio components category sounded particularly sweet in July. The eight- percent growth rate helped that category close the gap in year-to-date sales from last year. Receiver revenues jumped 32 percent in July, putting that important category a solid eight percent ahead of last year in year-to-date sales with industry revenues of $260 million. (CEMA estimates that almost half of home receivers now sold incorporate Dolby Digital technology, contributing to the popularity of the home theater experience.) Sales of home CD players increased three percent in July, largely due to sales of large capacity CD changers. Sales of these convenient mega-changers, which hold 100 or more discs, rose an astounding 66 percent in July. Their continued popularity is evidenced by 81 percent year-to-date growth from last year, equaling $49 million in revenues for the first seven months of 1999. Aftermarket autosound, still sizzling into the summer, also experienced an eight percent growth rate in July, driving year-to-date revenue to $1.3 billion - up 12 percent over the first seven months of 1998. Continuing to fuel that category is the in-dash CD player. Powered by those who want digital sound in their vehicles, this category grew 31 percent in July, equaling revenues of $72 million. Car speaker sales also did very well in July, growing 17 percent with industry sales of $33 million. Audio systems held steady in July, with sales increasing two percent to $164 million. Within this sector, home-theater-in-a-box systems, offering consumers a convenient entertainment purchase, performed especially well, with sales increasing 17 percent to bring in revenues of $24 million. The portable audio category also brings good news for the industry, with home radio sales rising five percent from last July to sales of $28 million.