The major labels' dominance, deep pockets and global distribution systems helped them to survive a turbulent and uncertain decade in the music industry. While the global market for recorded music had grown from $2 billion in 1969. to $10 billion in 1995, it had stagnated ever since. According to the Recording Industry Association of America (RIAA); the industry had registered no growth in any single year since 1995. By 2003, the recorded-music sector had shrunk to 1993 levels $32 billion and annual dollar sales were estimated to have declined at a compound annual growth rate of 5%