Table of Contents
Overview
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- What you need to know
- Covered in this Report
Executive Summary
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- The market
- Music earnings back on song
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- Figure 1: Forecast of music industry revenues, 2013-23
- Streaming’s rise shakes up music mix
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- Figure 2: Music industry income, by segment, 2014-18
- Technology trends accelerate shift to streaming
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- Figure 3: Ownership of voice-controlled smart speakers (eg Amazon Echo, Google Home), by age, January 2019
- The consumer
- Streaming services lead listening growth
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- Figure 4: Music and audio listening, February 2018-February 2019
- Younger listeners tuning out of radio
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- Figure 5: Devices used to listen to music and other audio, February 2019
- Commuters hooked on headphone habit
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- Figure 6: Music listening habits, February 2019
- Free alternatives slow streaming subscriber growth
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- Figure 7: Most popular free music streaming platforms, February 2019
- Figure 8: Most popular paid-for music and audio streaming services, February 2019
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- Figure 9: Barriers to paying for music streaming services, February 2019
- Downloading not dead – just different
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- Figure 10: Music streaming behaviours, February 2019
- Music and comedy top podcast charts
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- Figure 11: Most popular podcast genres, February 2019
- Music and machines, podcasts and people
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- Figure 12: Accessing music on streaming services, February 2019
- Figure 13: Podcast discovery, February 2019
- What we think
Issues and Insights
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- Are downloads really dead?
- The facts
- The implications
- How big a story is narrative podcasting?
- The facts
- The implications
The Market – What You Need to Know
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- Music earnings back on song
- Streaming killing the download star
- Vinyl revival slows physical decline
- Future technologies strengthen streaming’s grip
- Copyright clampdown threatens free play
Market Size and Forecast
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- Industry income remains on the rise
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- Figure 14: Music industry income, 2013-23
- Forecast
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- Figure 15: Forecast of music industry income, 2013-23
- Segment forecasts
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- Figure 16: Forecast of music industry income from physical formats, 2013-23
- Figure 17: Forecast of music industry income from digital music downloads, 2013-23
- Figure 18: Forecast of music industry income from streaming services, 2013-23
- Forecast methodology
Market Segmentation
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- Rise of streaming changes face of music spending
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- Figure 19: Music industry income, by segment, 2014-18
- Streaming growth rate turns dial down from 11
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- Figure 20: Music industry income from streaming services, 2014-18
- Vinyl bucks downward trend in physical sales
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- Figure 21: Music industry income from sales of physical music formats, 2014-18
- Download segment swamped by streaming
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- Figure 22: Music industry income from sales of digital music formats, 2014-18
Market Drivers
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- New technologies promote easier listening
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- Figure 23: Ownership of voice-controlled smart speakers (eg Amazon Echo, Google Home), by age, January 2019
- Mobile data trail highlights potential of 5G
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- Figure 24: UK internet access, 2013-17
- Music x media: Let’s work together
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- Figure 25: Participation in online activities during the last three months, January 2019
- New copyright law could mean fewer free options
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- Figure 26: Primary destination for listening to music not already owned, 2016
Companies and Brands – What You Need to Know
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- Big guns have Spotify in their sights
- New launches intensify competition in the cloud
- Spotify mounts major push into podcasts
- Streaming’s fight to corner the speaker market
- Spotify the clear brand leader
Market Share – Music Streaming Services
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- Big guns take aim at Spotify
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- Figure 27: Share of streaming population, by service, February 2019
Launch Activity and Innovation
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- More music and audio services come on stream
- Spotify acquisitions put accent on audio
- HMV rescue keeps faith in retail
- Streaming services pair with smart speakers
- Demand for value points to a bundled future
Brand Research
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- Brand map
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- Figure 28: Attitudes towards and usage of selected brands, March 2019
- Key brand metrics
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- Figure 29: Key metrics for selected brands, March 2019
- Brand attitudes: Spotify perceived as good value even at a premium price
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- Figure 30: Attitudes, by brand, March 2019
- Brand personality: Apple Music has an ethics and exclusivity problem
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- Figure 31: Brand personality – macro image, March 2019
- Spotify appeals as streaming’s cool choice
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- Figure 32: Brand personality – micro image, March 2019
- Brand analysis
- Spotify
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- Figure 33: User profile of Spotify, March 2019
- YouTube Music
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- Figure 34: User profile of YouTube Music, March 2019
- Amazon Prime Music
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- Figure 35: User profile of Amazon Prime Music, March 2019
- Apple Music
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- Figure 36: User profile of Apple Music, March 2019
- Google Play Music
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- Figure 37: User profile of Google Play Music, March 2019
The Consumer – What You Need to Know
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- Streaming now the norm for under-45s
- Smartphone-listening crowd tunes out of radio
- Commuters attached to their headphone habit
- Free alternatives stop more people subscribing
- Downloading is not dead – just different
- Music and comedy top podcast charts
- Music by numbers shuns social circles of podcasts
Music and Audio Listening
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- Streaming services lead listening growth
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- Figure 38: Music and audio listening, February 2018-February 2019
- Premium streaming still a luxury good
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- Figure 39: Streaming music via free and paid-for services, by household income, February 2019
Listening Devices
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- Early adopters push for smarter sounds
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- Figure 40: Devices used to listen to music and other audio, February 2019
- No one device to rule them all
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- Figure 41: Repertoire of devices used to listen to music and other audio, February 2019
Listening Habits
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- Travellers are most regular music listeners
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- Figure 42: Music listening habits, February 2019
- Podcasts risk being out of sight, out of mind
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- Figure 43: Podcast listening habits, February 2019
Music Streaming Services
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- YouTube dominates the free-listening picture
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- Figure 44: Most popular free music streaming platforms, February 2019
- Prime Music audience stands out from the premium crowd
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- Figure 45: Most popular paid-for music and audio streaming services, February 2019
- More service segmentation can address cost and value concerns
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- Figure 46: Barriers to paying for music streaming services, February 2019
Music Streaming Behaviours
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- Downloads preserve music’s place in more affluent media mix
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- Figure 47: Music streaming behaviours, February 2019
- New radio formats needed to ride the streaming tide
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- Figure 48: Preference for listening to streaming services rather than traditional radio, by generation, February 2019
Podcast Listening
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- Music matters more appealing to women
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- Figure 49: Most popular podcast genres, February 2019
- Narrative podcasts give brands a commercial break
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- Figure 50: Past-quarter listening to drama/narrative podcasts, by gender, age, socio-demographic status and gross household income, February 2019
Access and Discovery
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- Music streamers close their ears to others
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- Figure 51: Accessing music on streaming services, February 2019
- Talk is valuable for podcast promotion
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- Figure 52: Podcast discovery, February 2019
Appendix – Data Sources, Abbreviation and Supporting Information
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- Data sources
- Abbreviations
- Fan chart forecast
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- Figure 53: Forecast of music industry income, 2018-23
- Brand research
- Brand map
- Consumer research methodology
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