Nielsen Music Report 2015 shows streaming not yet there
The Nielsen Music Report 2015 sheds some light on the reality of music streaming.
According to the Nielsen Music Report and the three thousand and some American music fans they surveyed, streaming services such as Apple Music and Spotify are just not the thing that the majority of music listeners are making use of.
Basically, no one really wants to pay. 83% of the music fans in the survey revealed that the price of the streaming service is what helps them choose which one to go with. On the other hand, 46% of the individuals in the survey said that they were ‘not likely’ to subscribe to any streaming services because the cost of these are ‘too expensive’.
The second most common reason everyone gives in the Nielsen Music Report 2015 survey for not paying for music streaming is that they can stream it for free, so why waste their hard earned money.
The music industry is grappling with how to legitimise music streaming and gain some revenue from the lost sales they are experiencing as a result.
Music is still considered as something that is not essentially free, and fans are required to cough up if they would like to hear any of it. However, in our information sharing age this kind of thinking is a little naive when facing the future.
The successes of modern artists are not as defined by album or single sales as they were twenty years ago.
According to a report by Music Business Worldwide, 78% of music fans admit that they would be unlikely to pay for a streaming service in so far into the future as six months. Music Business Worldwide found that when you factor in bundles, price variation between countries, and other promotional discounts the average Spotify user could be paying a sum of $5.95 a month.
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