UK Music, CDs and Podcasts Market Report 2021
£ 2,195 (Excl.Tax)
When purchasing 2 reports
When purchasing 3 reports
When purchasing 4+ reports
£ 2,195 (Excl.Tax)
The UK Music, CDs & Podcasts report identifies consumer attitudes towards the audio market, streaming services, and consumer opinion on music brands in the UK. This market report covers the market size, market forecast, market segmentation and industry trends for the Music Streaming, Downloads & Podcasts market in the UK.
The music industry weathered the strains of COVID-19 well, with streaming revenues increasing and sales of physical formats proving resilient despite the closure of stores. Music is a somewhat weatherproof sector, performing well in all market conditions. It is strongly placed to continue its growth in the future, buoyed by the rollout of high-res and spatial audio features, continued growth in smart speakers and other connected devices, as well as further partnerships with gaming, fitness and social media companies.
Whilst intrusive adverts can prove a distraction and in some areas a catalyst for churn from a service (for instance with mobile device and gaming apps), opt-in adverts could create a direct revenue source for creators and more opportunities for brand tie-ups for streamers.
Despite music’s position as a recession-proof sector, the cost of living crisis could have a knock-on effect in the confidence and spending power of consumers, which can hamper growth or make some consider cutting back on subscription services, of which paid music streaming services are not immune.
With only around half of consumers paying for music in any form, it suggests that there remains significant headroom for growth by turning music listeners into paying customers. New cut-price audio-only streaming services, accessible by voice assistant, could help bring in more casual listeners to the music habit, who may not be minded to be making playlists or curating their own personal digital record collection.
Read on to discover more details or take a look at all of our UK Media, Books and Stationary market research.
Products: Physical media (CDs, vinyl), music streaming services, music downloads, podcasts (streaming, downloads).
Brands: Apple, Sony, Tidal, Deezer, Warner Music Group, Spotify, Netflix, Universal Music Group, Google, YouTube, Clubhouse.
This report, written by Joe Birch, a leading analyst in the Retail sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
2021 looks set to be another bumper year for the music industry. Music streaming will be buoyed by the mainstream rollout of high-res audio formats, whereas vinyl will continue to attract fans looking for an authentic music listening experience. The growth in connected devices will also increase listening occasions and streaming’s footprint. Longer term, innovations within the music platform space will see greater convergence of music with other entertainment formats such as gaming, driving music’s influence and creating greater opportunities for social discovery and community building.
Joe Birch
Consumer Technology Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.