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Universal Music Group Leads The Industry With Chart Success And Market Share Dominance
Universal Music Group (UMG), the world's largest music company, continues to lead the industry, closing in on the end of the year with unprecedented chart success and market share dominance. UMG has an impressive year-to-date current album market share this week of 30.88%, according to SoundScan and has also achieved a single-week current album market share of 39.79%, further indication of its leadership position. UMG holds the #1 spot on more than 30 charts, including SoundScan Top Current Albums, R&B Current Album, Top Catalog Albums, Top Soundtrack and YTD Top Rap Album, among others. UMG dominated the top 5 positions in the Current Albums chart for week- ending November 24, 2002. The company leads the industry with the country's best-selling album, Shania Twain "UP!" (Mercury Nashville) which debuted in the top position. Rounding out the top 5 are "NOW That's What I Call Music 11" (Universal Music Enterprises)[No. 2]; "8 Mile" Soundtrack (Shady/Interscope/UMG Soundtracks) [No. 3]; Ja Rule "The Last Temptation" (Murder Inc./Island Def Jam Music Group) [No. 4]; and Jay-Z "The Blueprint 2: The Gift & The Curse" (Roc-A-Fella) [No. 5]. Other top position holders include Audioslave "Audioslave" (Epic/Interscope) [No. 7] and Eminem "The Eminem Show" (Aftermath/Interscope) [No. 11], following an impressive run in the top 10 for 25 consecutive weeks. Interscope Geffen A&M Records and Island Def Jam Music Group continue to contribute impressively to UMG's success. The two labels once again led the industry in year-to-date current album market share with 9.77% for Interscope Geffen A&M Records and 8.29% for Island Def Jam Music Group. "This year has been a remarkable year for us and I am very proud of our label executives," commented UMG Chairman and Chief Executive Officer Doug Morris. "The dedication and creativity of our label heads as well as our extraordinarily talented artist roster is the key to UMG's success." UMG also has the top 3 selling albums year-to-date in the U.S. according to SoundScan. Eminem "The Eminem Show" remains the year's leader with nearly 7 million in sales. Nelly "Nellyville" (Universal) and Ashanti "Ashanti" (Murder Inc./Island Def Jam Music Group) round out the top 3 with sales of 4.1 million and 2.8 million respectively. Moreover, UMVD represents 59% of this year's top 10 Albums and has held either the No. 1 or No. 2 positions on the Top Current Albums chart for 33 of the past 47 weeks (70%). UMG has two top albums in the top 10 of the Latin Albums chart, Enrique Iglesias "Quizas" (Universal Latin) and "Juanes Un Dia Normal" (Universal Latin). UMVD is currently the #2 Latin music distributor in the U.S. with a market share of 22.87% (week-ending 11/24), rising from 5th place just 18 months ago. "We are thrilled to see our market share continue to grow, and we remain committed to our labels and artists," added Jim Urie, President, Universal Music & Video Distribution. "We are extremely optimistic about our success for the remainder of the year." This week's record-breaking achievement builds upon the ongoing success of UMG in 2002. UMG had an impressive 7 of the top 10 albums in the Top Current Album chart for week-ending April 7, 2002. On June 5, 2002, UMG achieved a record-setting weekly market share of 41.53% that was led by Eminem's "The Eminem Show." On July 3, UMG's year-to-date current album market share exceeded 30%. Universal Music and Video Distribution was also named Distributor of the Year by the National Association of Recording Merchandisers (NARM) for the second year in a row.
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