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These days everyone wonders...where’s the money?
One place is Music Downloads!
A report just issued by Arbitron/Edison Research Studies shows that the average music collection is huge and growing rapidly!
The average digital music collection - i.e. all the music on a respondent’s computer or hard drive - was 8,159 tracks. (If we equate a single track as being 3 minutes in length, that's approximately 17 days' worth of continuous music.)
No wonder that Music is the most “valued” form of entertainment...
When asked about "Desert Island" entertainment spending: What they would miss most?
Similar to 2008's findings, music remains the most important entertainment type for this age group. When respondents were asked which type of entertainment they would miss most if stuck on a desert island, music outscored both "the internet" and "mobile phone".
Digital ownership is important:
"Streaming is never as good as actually having the tracks I want so I can share them the way I want to" Despite already having access to a variety of streaming services, 89% of all respondents stated that they still wanted to "own" music.
Key findings on the music consumption of 14-24 year-olds:
The computer is now their main entertainment hub.
68% listen to music on their computer every day.
By comparison, only 15% use their CD player on a daily basis.
Ownership is important:
This is true both online and offline. Young people are using the growing range of licensed digital music stores and they still want to own music on physical formats.
Music remains their most popular form of entertainment. However, there remains a significant "value gap" between the popularity of music and the amount of money spent on it, especially when compared to other entertainment types.
The popularity of filesharing remains unchanged from 2008:
61% of respondents download music using P2P networks or torrent trackers. This is unchanged from last year. Of this group, 83% are doing so on a weekly or daily basis.
The main reason for filesharing is cost: it's free. However, respondents also use P2P to find music that is not commercially available (for instance, before a piece of music is released commercially) or to experiment and "try-before-they-buy".
They are prepared to pay for digital music:
85% of P2P downloaders would be interested in paying for an unlimited, all-you-can-eat MP3 download service or a simple easy pay per track system that does not tie you down. 57% of these said such a service would stop them using unlicensed P2P services.
But there are challenges for in the fast-developing market for streaming
music online:
There is obvious enthusiasm for streaming music online. However, 78% of respondents said they would not pay for such a service.
Digital music consumption is getting more complex:
86% of respondents have copied a CD for a friend; 75% have sent music by email, Bluetooth, Skype or MSN; 57% have copied a friend's entire music collection; 39% have downloaded music from an online storage site; and 38% have ripped a TV, radio or internet stream.
They have an inherent sense of what "copyright" is, but choose to ignore it:
The vast majority of respondents knew that sharing copyrighted content (as above) is not legal - yet continue to do so anyway.
So what do research results like this mean to IF Music?
- MP3 ownership and collections are massive and growing by the minute. It is here to stay!
- If the demographic that buys music the most had a place to buy music and download it easily other then their laptops or parent's P.C’s THEY WOULD!
- Lastly we believe the social aspect of sharing music is completely underestimated and would soar if a public source for purchasing such as the IF Music kiosk was available everywhere (and particularly in the favorite places for "hanging out") meaning in short... music sales would soar!
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IF Music…Music (plus Advertising, Promotions, Tickets etc.) Everywhere!
yea! who really buys a cd anymore. this is only the obvious. i stream sometimes but i prefer to have my music on my mp3 player. no one can stream when they are hangin or at the ball park right?
ReplyDeleteyou know you would be smart to put some ads on this blog. my comment I love my ipod you have a way I can add more music to it and it's easy to do, I could be your biggest customer.
ReplyDeleteMusic was my love when I was growing up. It's funny I collected lp's, I probably bought 2 or 3 a week every week and sometimes as many as 6 to 10 in one week. I can remember getting my pay check from my part time job the first place I went "the music store". I think it was a great comfort listening to my music, still is. It looks like nothing has changed other then the format music is being bought in and I guess the temptation of kids to get their hands on the music they want without paying for it. That sucks but the love of music and owning it is as prolific as when I was collecting as a kid. The kiosk option does sound like a great option a place to go to plus a real help in eliminating the temptation to steal the music as I understand it on these things they can't. Smart in a word very cool to be sure.
ReplyDeleteHuh want to see a kid obsessed with downloading music come see mine. All this kid wants are gift cards so he can add to his insane music download collection. I don't know what he looks like anymore with out wires hanging out of his ears. I will say it is better than many alternatives. The music downloadable kiosk would be a favorite of his I can say with all confidence.
ReplyDeleteI LIKE THE LOOK OF THIS KIOSK. AS A MARKETING RESEARCHER THIS IS THE KIND OF DESIGN THAT WILL GET OUR ATTENTION. TO SEE AN ARMY OF THESE LITTLE GUYS ALL OVER THE PLACE NOT ONLY WILL THEY GET OUR ATTENTION, THEY ARE THAT MEMORABLE. MY HAT IS OFF TO THE CREATOR / DESIGNER THIS IS WHAT PURPOSE OF DESIGN IS ALL ABOUT. THE STANLEY RICH DESIGN FIRM WA.
ReplyDeleteso if I was to be stranded on a desert island I would need food hopefully my best friend would be stranded with me and I would have to have my Ipod but I would need a way to charge it and external speaker jack. I could think of a few more things I would want if I was stranded but I could not live with out my tunes.
ReplyDeleteOn my way to work, but the kids badgered me to go to this blog. Now that I did I get what all the fuss is about. Good information a super concept, like other comments posted where can we go to use them? I have never encountered one but would like too.
ReplyDeleteI'm going to use them.
ReplyDeleteThis is a blog that brings up some good points. I never really thought about the fact that downloading songs from sites that you do not pay for them being theft. Now I have a bit of guilt because I am one of those who has done this. I can see if I had access to something like this kiosk I know I would have downloaded less illegal music most defiantly I would have paid for more. For me this blog has made me aware of things. I am 21 kids in my generation all know we can get things we want from the net free even if we know we are stealing. In some ways I love what we have available to us in others I am sad for us. I would like to say I will spread the word about this kiosk I do know I can say that when kids my age see these and know they are around we will be frequent users.
ReplyDeleteHere is an angle you have not written about on your postings. I asked my kids what they thought about a kiosk like this, as it is put in this blog, out there "everywhere". The idea of them being a social stop was something they tended to like the most. They went as far as saying this would be the first kiosk just form them. I realize it was not designed strictly for kids I am just surprised how my kids and their friends see this as being something for them to use even thinking it was made for them. This is a positive social tool if you will. I think it will help the music industry and the artist that write and sing the songs. My kids are 9, 11, 15 and 19.
ReplyDeleteThis is my fifth time back to this blog, the first time I am commenting. I brought the blog up at lunch yesterday we all got into a surprising discussion about using something like your service. Now we are not in your target market most of us in our late 30's. Yesterday's lunch group was 15 of us what surprised me was we all loved the creation of a place to buy downloads outside somewhere or everywhere. I must say I really thought my group would have been indifferent but not at all we all view the service as something we all want. Had to weigh in. R.S
ReplyDeleteI have a solution. It says here (The vast majority of respondents knew that sharing copyrighted content (as above) is not legal - yet continue to do so anyway.)
ReplyDeleteSo why doesn't the music industry find several incredibly intelligent geeks to invent some sort of monitoring software in which it attaches itself to every illegal site like lime wire. When a kid downloads illegal music from these illegal sites the software would track their personal pc info and domain or what have you, then compile and send it off to a legal eagle firm the music industry hires to which they do, a class action suit naming all of the names compiled even if it is tens of thousands and sue them. In this blog it clearly shows cases that have been prosecuted so precedence is on the side of the music industry.
Nail a ton of these people and kill those sites it will end this practice of stealing from the internet!
We think this is a great idea. I hope this one works. I have tried something like it at the airport. Not to be mean it was really a waste of time and to say it was a disappointment is being nice. A friend of mine came up with an idea like this a few years ago and he said wait and see this is how we will be getting our music in the future. Maybe your the future now? I went to the photo bucket site the pictures are great not that I know what all of them are about.
ReplyDeleteThe youtube vid is kinda cool. Like the little thingy we would like one near our home. I like photo bucket cool to see your link to it.
ReplyDelete