Who is paying for music? According to a new report from the UK, almost everyone.
A new study released by the Entertainment Retailers Association (ERA), a UK trade association, claims that the number of paid streaming music subscriptions will soon overtake the number of people accessing the same services for free.
The report, which was released on February 5, surveyed usage of Spotify, Apple Music, Amazon, Deezer, and YouTube Music, among others. The trade association found that more males already pay to stream (24.3%) rather than
For the time being, more people still stream for free (21.5%) rather than pay (20.6%), but the current conversation rates indicate a victory for paid-for services could come later this year.
Speaking on the results of the study, ERA CEO Kim Bayley said, “Ten or fifteen years ago popular opinion had it that it was all over for the music business and people would no longer pay for music. These figures are a striking vindication of the innovation and investment of digital services.
She added, “What is all the more remarkable is that the likes of Spotify and YouTube also offer fantastic free services, funded by advertising. These figures suggest that music fans increasingly believe that the added features offered by paid-for services, and the curation which enables them to navigate literally millions of tracks, are definitely worth the money.”
The ERA based its data on their recurring entertainment survey which every quarter for the past five years has quizzed a panel of 1,500 people on how they consume music video and games, tracking changing service and format preferences.
HOW PAID IS BEATING FREE IN THE STREAMING MARKET
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