Tags: Music listeners, Online Streaming, Spotify, Pandora, YouTube, Video Streaming, Vinyl Album Sales, CD Sales, Audio Content
- Evolving Music Needs: Music consumption continues to shift from owning to streaming in the US. CD album and digital album sales have declined since 2015. However, audio streams and video streams have risen substantially. Behind the recent trends is the evolving consumer behaviors – music streaming services fulfill complex needs of today’s music listeners, including a larger music library for any use case, the joy of new music discovery, and desire for seamless convenience.
- Complexity of music listening behaviors: Today’s music listening behaviors are nuanced. For example, music streaming services created a “lean-back” listening style, letting streaming services choose what plays next. With an “on-demand” listening style, listeners actively curate and create their own playlists. The choice between on-demand vs. lean-back depends on context, such as occasions, time of the day, moods, and listeners’ relationship with music. With the advent of Internet of Things, inter-connectivity with other devices have become a new norm. This type of demand will only rise as connected home appliances and connected cars become mainstream.
- Digital vs. Analogue: While digital streaming seemingly dominates the market, it is worth noting that vinyl album sales are making a comeback. It shows that today’s music listeners are not a singular group of consumers but a group of segments that show unique wants and needs. MineMR conducts robust and complex segmentation studies to understand desires and motivations of today’s consumers, helping you strategically target each group with winning strategies.
