More people in the UK buy CDs as opposed to streaming music…
According to research conducted by Kantar Worldpanel Entertainment, only 14% of people in the UK actually pay for a music streaming service. A survey population of 15,000 were sampled, and of the people that participated, 62% of the 14% of people who claimed that they did pay to stream music were using Spotify. The interesting part of the study was that more people (23%) said that they actually still paid for CDs.
The news is somewhat shocking, as it is widely expected that most people actually pay for a streaming service of some sort, instead of purchasing physical copies. However, this research indicates otherwise. Since the digital revolution, CD sales have been declining year-on-year, and this correlated with the uprise of digital downloads. With consumers changing their attitudes towards the way they consume and pay for music we are now seeing digital downloads decreasing and this directly correlates with the uprise of streaming.
Fiona Keenan Telecoms Expert, Kantar Worldpanel Entertainment says…
”Shoppers have come back to the CD this year, with almost a quarter of the population buying CD albums.”
We are in an era where streaming is becoming the major revenue generator for the music industry, and year-on-year the number of people that pay for a music subscription service is surging. Though in the UK, it seems that CDs are still generating more revenue that streaming.
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