Music Industry Analysis
Music Biz curates a feed of music industry news articles, business statistics and trend analysis from a variety of media outlets, filtering out the noise to deliver you the actionable insights you need to succeed. Starting in 2024, these articles will be accessible exclusively from Music Biz’s social media feeds.
December 10, 2020 – Where Do U.S. Consumers Begin Their Product Searches?
A majority share of consumers are now taking to marketplaces first when shopping online. According an August 2020 survey from ecommerce ad agency ChannelAdvisor conducted by Dynata, 53% of US adults said they began product searches at Amazon when planning to make a digital purchase. Consumers are also intending to lean on Amazon heavily this holiday season. About two-thirds of respondents to the ChannelAdvisor and Dynata survey said they planned to research gifts on Amazon, 20 points ahead of Google.... Read More
December 7, 2020 – Billions in Consumer Spending are Shifting as COVID-19 Forces Widespread Retail Disruption
Some of the highest revenue-generating grocery stores in the world are facing sweeping changes to their customer bases and their ability to deliver value to brands as people change where they shop—a change that, for some, may be permanent. The shifts come as COVID-19 forces millions of people to spend more time at home and less time commuting, a key driver of the shift. The changes are effectively shifting the balance of power in the grocery segment.... Read More
December 3, 2020 – Consumers Expect Brands to Be Inclusive
In the midst of social upheaval in the US, many marketers are striving to be more inclusive, especially as they relate to people who have been historically underrepresented, excluded, and stereotypically portrayed. By embracing and reflecting real-world diversity, marketers can build greater brand affinity and deeper customer relationships while working to effect positive change. Many of today’s consumers, especially younger demographics, LGBTQ individuals, people of color, and people with disabilities, are rewarding brands that capture diversity,... Read More
December 2, 2020 – Music Livestreams And Fundraising: What’s Working, What’s Not In Mobilizing Donors
Back in April, One World: Together At Home, the star-studded benefit concert organized by Global Citizen and curated by Lady Gaga, raised $128 million for the World Health Organization and other Covid relief beneficiaries. But while the event drew hundreds of thousands to a six-hour concert livestream and nearly 21 million viewers across the 26 networks on which a two-hour show aired live, very few of those dollars came from individual donors. “It wasn’t like people were providing $5,... Read More
December 1, 2020 – How Social Issues Are Sparking Action Among Brands
Today’s sociopolitical events have lit a fire under brands to address social injustice and diversity, equity, and inclusion (DEI) in deeper ways than they have in the past. Companies are using marketing and advertising to respond to and support discussions about systemic racism and the Black Lives Matter protests, the fight for LGBTQ rights, the #MeToo movement, the COVID-19 pandemic, and issues of immigration reform, to name a few. A majority of consumers now expect brands to take a stand on social issues and work to effect positive change—though their sentiments are sometimes complicated.... Read More
November 16, 2020 – Innovative Music Licensing Frameworks Will Be Key To UGC-Powered Music Expansion
Considering the rise of platforms like TikTok, it is apparent that creation and consumption of user-generated content (UGC) has made its mark on the music industry. According to a new MIDiA Research report titled “The Rising Power of UGC,” in 2019 UGC and user interaction contributed more than $1 billion to global music revenues, and it is continuing to grow to the point that YouTube now outranks Spotify and other audio streaming services for streaming music consumption across most markets globally.... Read More
November 12, 2020 – US Holiday Ecommerce Sales Will Surge 35.8% to $190.47 Billion, Offsetting Brick-and-Mortar Declines
Retailers are bracing for a softer holiday season due to the pandemic. They will see, however, a major shift to ecommerce this holiday season. US consumers will spend $190.47 billion this year on holiday ecommerce purchases, up 35.8% and representing an incremental $50 billion in sales versus 2019. In-store holiday sales will decline by 4.7% to $822.79 million. But online gains will entirely make up for these losses, resulting in growth of 0.9% for total holiday season sales,... Read More
November 9, 2020 – Mobile Viewing Accounts for Over 40% of All Video Consumption Hours Among Gen Z Heads of US Broadband Households
Parks Associates has released the new market snapshot OTT Video Viewership: The Role of Mobile, which finds viewing on a smartphone or tablet now accounts for over 40% of all video consumption hours among Gen Z heads of US broadband households, compared to just 20% among all heads of US broadband households. The market snapshot, developed in cooperation with Penthera, a global software development company that works with video providers globally to improve the mobile video experience,... Read More
November 9, 2020 – Record Store Day 2020 Drops Helped Sell Nearly 2 Million Albums at Indie Retail
Record Store Day 2020’s three-part drop series came to a close on Oct. 24 — and continued to generate big album sales for indie stores and the music industry. The drops (staged on Aug. 29, Sept. 26 and Oct. 24) combined to help generate 1.95 million in CD and vinyl album sales at indie stores in the U.S. — with 1.41 million of that in vinyl album sales, according to Nielsen Music/MRC Data. Those sums represent a sizable 34% and 38%,... Read More
October 28, 2020 – Three Key Trends Shaping the Media Landscape This Year
As the coronavirus spread in H1 2020, we might have expected radical changes in the media behavior of consumers around the world. But for the most part, they didn’t happen. That’s just one insight to emerge from eMarketer’s newly released Global Media Intelligence Report for 2020, a detailed look at internet users’ engagement with digital and traditional media in 42 major markets, produced in collaboration with Starcom and GlobalWebIndex. Many significant shifts are taking place, though—in device ownership,... Read More
