Media Insight Consulting, the consultancy business set up last year by former Universal Music Global Insight Director Chris Carey, has released some top-line data from a consumer research initiative titled ‘What Music Means To Me’, based on a survey of 2650 consumers.
Among the findings in the first batch of results to be released (more will follow focused on live and merch) are…
• Over half of consumers place a high value on music, with 30% of those surveyed, and 44% of 16-24s, saying that “music is my number one passion”.
• 43% of the 16-24s surveyed had used a free streaming service in the last year, though the 25-34 age group was most inclined to pay to access streaming music.
• 60% of consumers overall said they were still interested in purchasing physical product, and while that figure declines as people get younger, 44% of 16-24s still expressed an interest in non-digital releases.
• And when it comes to ownership of music – physical or digital – unsurprisingly under 25s are less obsessed with owning copies of their favourite tunes, with 48% saying it’s not necessary because music is so readily available online. Though that still means half are attracted in some way to permanent copies.
– See more at: http://www.completemusicupdate.com/article/new-research-provides-insights-into-what-uk-consumers-think-about-music/#sthash.fUMghFCt.dpuf