A newly released report takes a look at the digital music landscape in the UK. The British Recorded Music Industry reports that over the past ten years digital music has become a key part of the record industry in the UK, with revenues from downloads and streaming accounted for more than 50% of record label income last year for the first time.
What’s more, consumers are highly satisfied with streaming music services – 93% of those subscribing to a streaming service are satisfied with it. Access to an extensive music collection, music discovery, and mobile access are some of the key values that streaming services offer that consumers don’t mind paying for.
This is a dense report that’s a must read for folks in the streaming business. While it’s focused on the UK, the analysis and strategic discussions are comprehensive and applicable to other markets as well. Here’s the link.