The International Federation of the Phonographic Industry known as the IFPI is an industry body that represents the interests of the recording industry worldwide. This week it released a new study which explores the way consumers engage with and accesses music. From who listens the most, and what they are tuning into, and where we hit play, here are four interesting key findings from the study.
The study interviewed more than 30,000 consumers across 21 one of the biggest territories – according to the Global Music Report who make up more than 92% of global music revenues.
We spend almost an entire day per week listening to music every week. The global average this year came in at 18 hours, a slight increase on last year. This number, however, doesn’t sound too much when you realise it is only approximately equal to 52 three minute songs. That being said Mexico outplayed the rest of the world with 25.6 hours of music listening per week!
There is finally a growing adoption of streaming services amongst the older generation.
It appears as though the streaming model is beginning to make headway in the 35-64 demographic. A market which has traditionally opted for radio and their home collections. However it would appear that labels introducing remastered, and re-issued works have encouraged some of the users back. This is good news for music services as they have deeper pockets for subscriptions but traditionally consume less new music – this might also be a big factor in ‘Oldies’ placing in the top 3 genres.
Radio still has a strong impact.
Radio made up 29% of overall listening activity by device, followed by smartphones (27%) and laptops (19%). While radio might still have the advantage now, car companies are already rolling out partnerships with big music services and technology with streaming capabilities. Among the findings 70% of people said their top listening activity was driving. This study also suggests we might be seeking it out more than thought with 51% of people said they also access the radio from smartphones.
Illegal methods to stream or download music are still prevalent.
While we have the privilege of being sent a lot of the best new music, it seems almost too difficult or risky for your device. However, it was reported that 23% still regularly used stream ripping and other unlicensed methods to get music, meaning it still remains a real threat to the music ecosystem.
You can view the full report here