Midem is the music industry’s biggest showcase for innovation: gadgets, business models, music, you name it and there will be an element of it on show.
Midem.net has released a global study of the state of the music industry, and I thought i’d share some of the highlights of the report.
Over 13 markets, the report has looked at over 8,500 interviews with music consumers to analyse buying and consumption habits.
Two thirds of adults care about music, with the UK joint top on 79% with Brazil and Spain. It’s interesting to note here that Spain has recently been criticised for having uber-lax anti-piracy laws…
21% of respondents said that they stream music from the likes of Spotify or Myspace, and 14% have downloaded and paid for a track. 7% have downloaded and bought an entire album – this demonstrates the power of the hit single coming full circle I’d argue.
Interestingly, in the UK 24% have streamed music (probably due to the availability of Spotify) and 26% have bought and downloaded a track – music piracy?
30% of consumers have purchased a CD in the last 12 months, and 11% purchased a CD over the Internet. The physical format isn’t dead yet kids!
Mobile of course is one of the developing areas, and 8% have bought a music app, with 12% buying a track for their mobile device.
Music is culture, and as such, should be free to everyone. To me, the value that the artists gets in return is in all the stuff that goes around their music – gigs, merch, mobile apps etc – not the actual selling of the physical recording. To that end, 42% of people have been to a live show in the past 12 months, and 11% of people have purchased a form of merchandise – 18% of Brits buy their favourite artist’s tees.
This certainly provides a different perspective to the IFPI stats released earlier this week. What do you think?
You can download the full report here.