Nielson - global statistic lords have released their latest "Music 360" report that has founded some rather intriguing results.
In the US, radio is still thought to be the main influencer but Googles video platform Youtube has overtaken it when it comes to discovery.
For two thirds of young US teenagers Youtube is more important then the radio (54%), iTunes (53%) and CDs (50%) by holding a commanding 64% grip as the first destination for listeners.
“While younger listeners opt for technologically advanced methods , traditional methods of discovery like radio and word-of-mouth continue to be strong drivers,” said Nielsen SVP David Bakula in a statement yesterday. “With so many ways to purchase, consume and discover great new music, it’s no wonder that the consumer continues to access and enjoy music in greater numbers.”
It'd be interesting to see a similar study within Australia, especially with the introduction of multiple streaming services Rdio, Spotify, MOG and newcomer Deezer.
More teens listen to music through YouTube than through any other source
64% of teens listen to music through YouTube
56% of teens listen to music on the radio
53% of teens listen to music through iTunes
50% of teens listen to music on CD
Positive recommendations from a friend are most likely to influence purchase decisions
54% are more likely to make a purchase based off a positive recommendation from a friend
25% are more likely to make a purchase based off a music blog/chat rooms
12% are more likely to make a purchase based off an endorsement from a brand
8% of all respondents share music on social networking sites, while 6% upload music.
Digital music is seen as a slightly better value than a physical CD
63% of purchasers identified digital albums as a very or fairly good value
61% identified digital tracks as a very or fairly good value
55% identified physical CDs as a very or fairly good value
Younger consumers who do buy digital tracks, are more likely to purchase new music immediately after its release
33% of teens purchased a digital track within one week of release
21% of persons 18+ purchased a digital track within one week of release