While adoption of streaming is on the rise, the number of people actually paying for these services isn’t. Why? Let’s go to Music Business Worldwide for some thoughts.
Did you know less than 1% of the world’s population are currently paying for on-demand music streaming services?
The wider industry continues to hope that the likes of Spotify and Apple Music will provide salvation – and early signs from the Nordics and other territories certainly provide reason for hope.
But why are the vast majority of people refusing to put their hand in their pocket for ‘all the music in the world’?
New research out of the US from Nielsen Music brings us closer to the answer.
The research company has conducted what it calls ‘a comprehensive, in-depth study of consumer interaction with music in the United States’ for its Nielsen Music 360 Report– analysing the responses of more than 3,300 US music fans.
The Report covers a range of topics and provides reason to be cheerful: apparently 75% of US consumers now listen to music online in a typical week, for example.
There’s also a shot in the arm for radio.