Two thirds of music fans see themselves as 'multi-channellers', using streaming to discover new music before buying their favourite physical releases, new research claims.
The study, commissioned by the BPI and the Entertainment Retailers’ Association (ERA), revealed that streaming is encouraging a new relationship between digital and physical formats.
According to the research, 66 percent of respondents use streaming to satisfy their daily music needs before purchasing a CD or vinyl.
The study found that this trend applies to younger consumers as much those brought up with physical formats.
Up to 72 percent of 16-34 year olds view themselves as multi-channel music consumers compared with 80 percent of those aged 35-54.
Geoff Taylor, BPI and BRIT Awards chief executive, said: ‘The enduring appeal of compact discs and vinyl has surprised many commentators who wrote them off years ago. But these physical formats still represent over 40 per cent of UK music consumption, after decades of success.
‘Our new research explains why they remain so popular, even with music downloads and the explosion in audio streaming. It shows that, unexpectedly, streaming may be enhancing their appeal to many fans, who appreciate the immediacy and convenience of services like Spotify, Apple Music and Google Play to discover and enjoy a huge range of new music, but still want to own and collect albums by artists they truly love.’
Demand for CD is in decline in relation to the music market as a whole, but there are signs this rate may be slowing. In 2012 sales dropped by a fifth (20 per cent) while in 2014 this had slowed to eight percent.
Vinyl’s resurgence continues with 2015 Official Charts data suggesting that LP sales are on track to eclipse the 2m unit mark for the first time in over 20 years.
Visit the BPI website for more information on the results of the study.
The study, commissioned by the BPI and the Entertainment Retailers’ Association (ERA), revealed that streaming is encouraging a new relationship between digital and physical formats.
According to the research, 66 percent of respondents use streaming to satisfy their daily music needs before purchasing a CD or vinyl.
The study found that this trend applies to younger consumers as much those brought up with physical formats.
Up to 72 percent of 16-34 year olds view themselves as multi-channel music consumers compared with 80 percent of those aged 35-54.
Geoff Taylor, BPI and BRIT Awards chief executive, said: ‘The enduring appeal of compact discs and vinyl has surprised many commentators who wrote them off years ago. But these physical formats still represent over 40 per cent of UK music consumption, after decades of success.
‘Our new research explains why they remain so popular, even with music downloads and the explosion in audio streaming. It shows that, unexpectedly, streaming may be enhancing their appeal to many fans, who appreciate the immediacy and convenience of services like Spotify, Apple Music and Google Play to discover and enjoy a huge range of new music, but still want to own and collect albums by artists they truly love.’
Demand for CD is in decline in relation to the music market as a whole, but there are signs this rate may be slowing. In 2012 sales dropped by a fifth (20 per cent) while in 2014 this had slowed to eight percent.
Vinyl’s resurgence continues with 2015 Official Charts data suggesting that LP sales are on track to eclipse the 2m unit mark for the first time in over 20 years.
Visit the BPI website for more information on the results of the study.
