How to turn increased music discovery into increased music purchasing has just become every music marketer’s dilemma 2.0. An NPD Research study presented at NARM showed several trends that should make music marketers and retailers rethink their strategies both online and off:
- The ubiquity of niche and personalized music via streaming, download, etc. may actually inhibit sales. The study claims that satellite radio listeners are 30% less likely to buy CD’s because the music they want is readily available on their XM and Sirius radios. And then there’s personalized "radio" like Pandora, Launchcast and Last.FM.
- Only 16% of consumers discover new music in stores compared to 32% on radio, 21% from family and friends and 20% from online services.
