RECORDED MUSIC MARKETS

AMERICAS: Music piracy costs the global industry $4.2 bn annually.

The Recording Industry Association of America (RIAA) fetchingly describe piracy as 'Old as the Barbary Coast, New as the Internet' and they are concentrating their efforts on counteracting it in all the forms in which it impacts their members. They estimate that it costs the global industry $4.2 bn annually.

The RIAA's team of internet specialists, with the assistance of a 24-hour automated webcrawler, attempts to stop internet sites that make illegal recordings available.

ADVERTISING MARKETS

AMERICAS: Brazilian city lives happily without public advertising.

In September 2006 the Brazilian city of São Paulo voted to ban all advertising in public spaces with effect from 1 January 2007.

This restriction applied not only to billboards, screens and neon displays but also to the distribution of fliers, hoardings on public service vehicles and the size of shop fascias.

Initial impressions are that the public supports the ban and welcomes its positive impact on the environment whilst the advertisers are learning to live with it.

AIRLINES MARKETS

EUROPE: Private equity demonstrates appetite for European airlines.

Private equity house TPG (formerly Texas Pacific Group) is, in conjunction with British Airways, exploring an approximately $5 bn bid for Spanish flag-carrier Iberia. It is also one of three short-listed bidders for the Italian government's 49.9% interest in Alitalia.

British Airways currently owns 10% of Iberia and has first refusal on a further 30% so is able to thwart alternative bidders.

It has been argued that British Airways should be focussing its attention on growth markets in Asia rather than consolidation in the relatively stagnant European arena.