FIMI meaning in Business ?

Answer: What is Federation of the Italian Music Industry mean?

The Federazione Industria Musicale Italiana (FIMI) is an umbrella organisation that keeps track of virtually all aspects of the music recording industry in Italy. It was established in 1992, when major corporate labels left the previously existing Associazione dei Fonografici Italiani (AFI). During the following years, most of the remaining Italian record labels left AFI to join the new organisation. As of 2011, FIMI represents 2,500 companies operating in the music business.

FIMI is a member of the International Federation of the Phonographic Industry and of the Italian employers' federation, Confindustria. Its main purpose is to protect the interests of the Italian record industry.

Starting in March 1995, the Italian Music Industry Federation began providing the Italian official albums chart. In January 1997, FIMI also became the provider of the Italian official singles chart. Due to the decrease of CD singles sales in Italy, FIMI replaced its physical singles chart with a digital downloads chart—based on legal Internet and mobile downloads—on 1 January 2008.

In July 2011, Enzo Mazza was confirmed as FIMI chairman.

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