Measures of social distancing from the ongoing COVID-19 pandemic have benefited music streaming services like Apple Music, a report from Nielsen’s US music industry indicates that streaming subscriptions have grown steadily while d other methods of purchasing music were negatively affected.
The music industry in general had a considerably good start until 2020 in the first months of the year, according to the Nielsen report, with total audio activity in the United States up 14.6% in annual change from the start of 2020 to March. 12. During this period, on-demand audio streaming services like Apple Music recorded year-over-year growth of 20.4%.
Shortly thereafter, the presence of COVID-19 and the need for people to stay at home had an impact on many different industries by reducing overall consumer purchases. Despite this, total audio activity increased by 6.2% over the period from March 13 to July 2 from one year to the next, which allowed cumulative activity to remain at an annual increase of 9 , 4%.
Audio on demand streaming remained solid during the second period, growing 13.8% and maintaining growth since the start of the year at 16.2%.
Digital sales, like on the iTunes Store, started the year badly with a 24.6% year-on-year decline in sales of digital albums until March 12 and sales of digital songs down 26, 4% over the same period. For the period March to July, sales of digital songs remained weak at 21.2%, but sales of digital albums apparently recovered to 7.3% year-on-year.
In contrast, physical album sales fell from 4.6% growth in the previous phase, then fell to 35.4% in the most recent period.
Suggesting that “boredom and anxiety” helped push consumers to music for comfort, the report suggests that many people turned to the music they knew, including 55% revisiting music that ‘They hadn’t heard in a while. The share of titles in the streaming catalog, defined as music over 18 months, increased slightly, from 62.5% in the first half of 2019 to 63.1% in 2020.
“These changes in viewing indicate that the latest versions have received less attention than a year ago,” said the report. “I change by just one percentage point represents a change in the flow of newer songs to older songs by around 23 million per day and 160 million each week.”
The higher number of streams is a continuing trend for the music industry as consumers move from purchasing music to paying for access.
In April, a report claimed that the Apple Music subscriber base increased by 36% in 2019, outpacing overall subscription growth by 32%. RISS said in February that streaming services, including Apple Music and Spotify, had generated $ 8.8 billion in revenue for the U.S. music industry in 2019, a 20% increase year over year. other and representing 79% of all American music revenue in 2019.