Over Half Of Americans Buy Music As A Gift
Music remains one of the most popular gifts in the United States, with more than half of Americans saying they purchased a music product as a gift over the previous year, according to research conducted by LOOP (a product of AudienceNet) and provided to the Music Business Association (Music Biz) for its members. The data comes from a new “Gifting Topliner” that will be released on Thursday, October 20, via Music Biz Consumer Insights, the interactive, member-exclusive research portal hosted on www.musicbiz.org.
Based on a September 2016 survey of 1,515 U.S. respondents, the Topliner shows that 53% had given a music gift within the previous 12 months, with CDs remaining the most popular gift item. Of those surveyed, over a 12-month period: 26% said they had gifted a CD, 19% said they had gifted MP3/download albums, 19% said they had gifted music gift cards (e.g. iTunes, Spotify vouchers), and 15% said they had gifted concert tickets.
However, pre-paid subscriptions to music had been gifted by only 8% of respondents over the last 12 months, highlighting a potential growth area in coming years. Music gift cards also beat CDs as the most consistently given gift to 16 to 19 year olds. 30% of 16 to 19 year olds were given a music gift card over a 12-month period, whereas 19% were given a CD (including both singles and albums), reflective of the age group’s preference for non-traditional formats.
In addition, in a separate survey of 3,014 U.S. respondents (conducted in May 2016), 37% of respondents said they had not bought for themselves, or been gifted, any music-based products over the last six months, including concert tickets, CDs, and downloads but excluding access-based products like subscriptions. These individuals skew older, signaling an opportunity to tailor projects and marketing to convert this demographic and engage with casual music consumers.
The free Music Biz webinar, “The Market for Giving the Gift of Music,” will be held on Thursday, October 20, from 2 to 3 p.m. EST and feature a discussion of the findings by LOOP representatives. To register for the webinar, visit https://attendee.gotowebinar.com/register/3042485390651815171. Music Biz members who attend the full webinar will receive a complimentary copy of the Topliner as Music Biz’s gift. Music Biz members who do not attend “The Market for Giving the Gift of Music” webinar can purchase the Topliner for $49.95 from the Music Biz Consumer Insights portal at www.musicbiz.org/resources/tools/music-biz-consumer-insights/consumer-insights-portal. Non-members who want more information about joining Music Biz and obtaining the Topliner may contact Nicole Hennessey, Music Biz’s VP of Communications, at nicole.hennessey@musicbiz.org.
“Music is a gift with the power to impact lives in so many ways,” said James Donio, President of Music Biz. “We will work with the industry to ensure that music gifts continue to evolve and innovate to entertain and inspire new generations for years to come.”
“Our research shows that music remains a big part of gifting culture, with significant potential for even more gift purchases in the future,” said David Lewis, CEO/Founder of AudienceNet and Co-Founder of LOOP. “With the U.S. market showing growth in the first half of 2016, the upcoming holiday season presents a great opportunity to continue that momentum going into the new year.”
Source: Music Business Association
