A new report from Nielsen confirms that music is still an important part of most Americans’ lives. The Music 360 2015 Report found that 91% of us listen to music and we spend an average of 24 hours each week listening. That’s an average of 3.4 hours/day…that’s more time than college and university students spend on work and related activities (2.5 hours) and even more time than they spend on educational activities (3.3 hours) (link).
According to Nielsen,
Radio continues to be the No. 1 source of music discovery in the U.S, with 61% of respondents saying they find out about new music from AM/FM or satellite radio, a 7% increase over last year. Word of mouth is also important, particularly for teens: 65% say they discover new music through family and friends, well above the average of 45%.
According to another report from Nielsen, “On average, U.S. consumers report spending $109 each year on music. So aside from albums, what other types of music options are consumers spending their money on? Surprisingly, live events are gaining momentum, as they now account for more than half of total music activity spending each year.”
The chart on the right shows how American music consumers are spending (or not spending) their dollars to acquire music. As you can see, live concerts and CDs are the top two ways of purchasing access to music. While this chart may not describe your spending patterns, it is interesting to note that traditional means of acquiring music are still important. And you may also be interested in knowing that two albums alone sold a combined 7 million units last year…dominating album sales. “Combined, Taylor Swift’s 1989 and the Frozen soundtrack accounted for almost half of the year’s top 10 album sales.”