I’m not a big fan of predictions, especially in the music industry, but consulting firm Deloitte released a study which assesses and predicts how the Millennial generation, deeply immersed in digital lifestyles, consumes media. Deloitte discovered that music consumption ranks second behind Pay-TV, ahead of computer games, movies, and other categories.
Deloitte’s survey found that its young respondents will spend $125 each on music, but don’t count on them buying a music subscription like Spotify or Rdio for the complete budget – concert tickets takes up four-fifths of that expense ($100), leaving $25/year for files and streaming. That’s exactly what those industry speculators were saying, too – artists will make up their loss of music sales on the live show, but the reality is those concerts are the big arena shows, rather than club ones.
Via Rain News