IFPI report shows radio continues to be resilient

International Federation of the Phonographic Industry (IFPI) has released their 2018 music consumer insight report, and it shows radio remains resilient.

IFPI CEO, Frances Moore, says “This year’s Music Consumer Insight Report tells the story of how recorded music is woven into the lives of fans around the world. As it becomes increasingly accessible, it continues to be embraced across formats, genres and technologies.”
While global figures for streaming suggest that 86% of consumers stream on-demand music (53% in Australia) 86% of consumers still listen to music on radio (83% in Australia).

According to the report, that while 25% of all music listening time is on radio, or 4.4 hours globally, a total of 17.8 hours is spent streaming music each week, or 2.5 hours per day.

Where people are streaming music
In Car 66%
Commuting to work 54%
Working or studying 40%
Going to sleep 19%
Relaxing at home 63%
Cooking or cleaning 54%
Exercising or at the gym 36%

For 16-24s 72% are listening to music on the way to work or school, and 30% listen as they go to sleep
The report found that 75% of consumers use Smartphones, and 58% of 16-24’s said that if they only had one way to listen to music it would be on their Smartphone.

On the subject of smart-speakers, the report found that 15% of consumers worldwide will purchase a smart speaker in the next 12 months, and their users are most likely 25-34.

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