Primephonic Commissions Report on the State of Music Streaming

 

NEW YORK--()--Primephonic, the world’s leading classical music streaming service, has published a report titled “US Streamers: Not as happy as you think”. The key conclusions of the report are:

  • The majority of US music consumers have yet to adopt streaming
  • The majority of streamers have an unpaid streaming subscription
  • Many streamers are not that satisfied with their current streaming subscription
    • 73% cannot always easily find what they are looking for
    • 85% do not frequently listen to playlists recommended by their streaming services
    • 74% do not believe streaming services do an adequate job of introducing them to new music
  • Half of (paid) streamers (52%) are willing to pay more than the current market rate of $9.99 for a streaming service that truly meets their needs, especially fans of niche genres like classical and jazz dissatisfied with their current streaming experience
  • 25M Americans would therefore like a niche streaming service that truly specializes in their favorite music genre, making niche music streaming potentially a 2.5B business
  • The above explains the emerging trend of niche music streaming services

In order to capture additional growth in the streaming market, better options must be made available in specialty and niche genres. If the major streaming services fail to get this right, niche streaming services will capture this multi-billion market opportunity.

The full report can be found at:
https://blog.primephonic.com/us-streamers-not-as-happy-as-you-think

About Primephonic

Primephonic is the world’s leading classical music streaming service, offering listeners premium-quality audio, optimal search functionality, hand-picked recommendations, and detailed song and artist information.

The streaming revolution saved the mainstream music industry, but it left niche genres like classical behind due to the one-platform-fits-all-genres approach that the major streaming services apply. Primephonic is the antithesis of this, designed to support classical music’s complexities to provide fans with an optimal listening experience, and artists and labels with fair compensation through their unique pay-per-second-listened payout model.

Headquartered in Amsterdam with an office in New York City, Primephonic is reigniting passion for classical music by bringing it into the digital age.

Visit www.primephonic.com.

*Primephonic commissioned YouGov PLC – a third party, professional research and consulting organization polling the views of 1,000 individuals. Field work was undertaken online between May 24-27, 2019 and June 10-11, 2019. The figures have been weighted and are representative of all US adults (aged 18+).

Contacts

Ellie Stork
ellie.stork@primephonic.com

Contacts

Ellie Stork
ellie.stork@primephonic.com