Australians are rapidly changing the way they consume music. There is good news and bad news but there is also time to change.
A survey by ticketing group Eventbrite shows that 1 in 10 Australians now stream music as a primary consumption means while CD as a format is used by 23% as a primary listening source. 50% of Australians download to listen to music.
Not surprisingly, as the audience ages, the way music is consumed reverts more to the older model. In the 35-44 age bracket, there is roughly a 50:50 breakdown of new media to old media consumption. The 45-54 demographic drops to 30% new media and 55-65 drops to 20%. This suggests that as the population ages the habits will change but the industry has time to adjust.
What is really concerning is that half of the people surveyed said they like music but would not pay for it with women 16-24-year-old the lowest spending music group followed by 25-34-year-old men. That figure demonstrates the impact of illegal downloads since the inception of Napster. The Napster generation now has a general perception of music as something you get for free.
The Eventbrite results recognised how consumers will pay $140 a month for a patchy Foxtel offering yet are loathe to pay $140 a year for an all-you-can-eat streaming service.
The report suggests the use of the Pareto Principle to engage fans. The Pareto Principle applies an 80:20 rule suggesting 20% of fans are the superfans who provide 80% of an artists income. The key is to identify the super-fan and make them part of your community.
This Eventbrite consumer research took place in Australia between 18-25th July 2016 and covered a nationally representative sample of 2,005 adults through online interviews.
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