Music Business

What your taste in music says about your spending habits

Is your taste in music correlated to what you spend money on? Here is some data collected in 2021 by the US Music 360 Report that answers that very question.

A guest post by Bobby Owsinski of Music3.0.

Connecting what we listen to with how we act or what we buy has always been somewhat hit or miss. It’s almost like equating how someone dresses when they go out to a club or concert with what they wear to work. Sometimes it matches but most of the time it doesn’t. That being said, there’s now a huge pool of real data to pull from that can tell us so much about ourselves, and what we may see can be a surprise. That’s the case with the latest 2021 US Music 360 Report from MRC Data that analyzes, among other things, the spending habits of music fans based on their listening habits.

Here’s some of what the researchers discovered:

  • EDM fans are twice as likely to have purchased bourbon in the past 3 months than the average listener (15% vs. 7%).
  • 80% of Bollywood music fans claim to have made a luxury purchase in the past 3 months.
  • Broadway fans (58%) are most likely to have used an e-commerce/online shopping platform in the past 3 months.
  • Children’s music fans are the most likely to have purchased fashion/ clothing (74%) and cosmetics (50%) in the past 3 months.
  • 1 in 3 Holiday music fans plan to book an airline ticket in the next 3 months. 29% are also likely to book a vacation rental.
  • 2 in 3 Rock fans have purchased a nonalcoholic beverage in the past 3 months.

It just goes to show that sometimes assumptions are nothing more than guesses. For instance, most would probably have expected EDM fans to purchase more nonalcoholic beverages than rock fans, and rock fans to purchase more bourbon than EDM fans, rather than the other way around.

Platforms are now very savvy about the data built around your spending habits. YouTube provides adverts from sponsors based on the purchases made by a type of viewer, and Amazon is the king of data when it comes to your spending, constantly showing you items that might get you to spend a few more bucks.

The big takeaway from the MRC report is to not judge a fan by the music he or she listens to. You really don’t know much about them unless you have the data.

Bobby Owsinski is a producer/engineer, author and coach. He has authored 24 books on recording, music, the music business and social media.

Read more:  https://music3point0.com/2022/01/11/what-your-taste-in-music-says-about-your-spending-habits/#ixzz7HjnEDMnG 
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1 Comment

  1. Amazing Post! Really I am very glad to read this interesting article about money spending habits can say our music taste. I am also very surprised to know the researcher’s discoveries about the different types of music fans having different money spending habits. As a Bollywood music lover, I always try to reduce spending money, In this case, this website https://fitmymoney.com/zero-based-budgeting/ helps me to get zero-based budgeting and other financial tips to save money. Anyway, I have learned some interesting things from this post that’s what I appreciate the author for sharing this good research with us.

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