Dilemma 2.0: Music Discovery May Not Mean Music Purchase
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.
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Only 16% of consumers discover new music in stores compared to 32% on radio, 21% from family and friends and 20%.
…and 20% what?
Thanks for catching the error. It has been correct. The missing piece was 20% discover music online.
“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“
That doesn’t say anything about their behavior before they bought the sat radio. Perhaps, people who buy satellite radio buy less CDs anyway?
And how many sat radio listeners are more likely to buy more CDs because of the increased discovery?