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Business News (more headlines) 03-08-2002

RIAA And AFIM Forge New Relationship

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Work Together on Key Industry Issues

WASHINGTON—The Recording Industry Association of America (RIAA) and the Association for Independent Music (AFIM) today announced a new relationship. Through a $25,000 grant from the RIAA to support AFIM's mission as well as to foster joint programs of mutual concern, the two organizations will work together on issues they hold in common, such as combating the challenge of CD Recordable piracy, international intellectual property protection and the parental advisory program.

"On behalf of both our major label and independent label members alike, we believe this is a natural relationship that we hope will vitalize the voice of the independent music community," said Hilary Rosen, President and CEO of the RIAA. "At this critical time in the industry we hope this alliance will strengthen the mutual goal of building the vitality of the industry and addressing items of common concern between independent and major labels."

"We are pleased that the independent voice will be strengthened as a result of our new relationship with the RIAA. This relationship will provide a direct line of communication with our members and enlighten them on issues that may significantly affect the industry and their business activities," said Jeanne Oberstar, Executive Director of AFIM.

The Recording Industry Association of America is the trade group that represents the U.S. recording industry. Its mission is to foster a business and legal climate that supports and promotes our members' creative and financial vitality. Its members are the record companies that comprise the most vibrant national music industry in the world. RIAA® members create, manufacture and/or distribute approximately 90% of all legitimate sound recordings produced and sold in the United States.

AFIM is the premier organization of the independent music community in North America. Its members include independent labels, artists, distributors and suppliers. Founded in 1972 as NAIRD (the National Association of Independent Records Distributors and Manufacturers), the organization has grown from primarily a distributor group to encompass all aspects of the independent music business world.

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