US Music Consumer Deep Dive The Growing Impact Of Free
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The 20,000 Foot View
The world’s largest music market continues to set the pace for digital music adoption among the large music markets. Tech savvy young Americans are increasingly embracing consumption over ownership models and in turn are helping change the revenue landscape. However a closer look at the market reveals the ever important role of radio and also the stubborn persistence of CD sales as a key part of the revenue mix.
Key Findings
- Radio remains main music discovery platform among consumers with penetration compared to online music video
- As many consumers now stream music for as pay to download
- Music subscriptions a relatively niche early adopter with only of US consumers up, of whom are male nearly three quarters are under of US consumers say they do not need to pay for streaming as they get all they need for free from YouTube
- Only of consumers have tried a subscription indicating both growth potential and need for more robust marketing
- Mobile music remain dominated by unlicensed offerings
Companies mentioned in this report: Spotify, Pandora, Apple, YouTube, Rhapsody, Beats Music, Google, Facebook