I love popping in my headphones and listening to some good tunes while I work (listening to Massive Attack- Teardrops as I write this). This enticing infographic by The Music Bed offers a lot of interesting insights into the music industry and its role in our economy.
Generating some 16.5 billion dollars in revenue globally, the music industry is no bit player. And while the industry has faced challenges in the digital revolution, the 2013 Music Industry Report recorded the first rise in global sales since 1999.
As technology changes the way we live our lives, it also changes the ways we relate to music. For example, 48 percent of people discover music through the radio and only 7 percent on YouTube. And yet among teens 64 percent discover music through YouTube.
Digital track and digital albums are both viewed by slight more than 60 percent of people as being a “good value.” CDs are also viewed favorably, with some 54 percent of people perceiving them as also offering a good value.
And now with the rise of smartphones, some 54% of people have music apps on their phones and 47% have radio apps. While digital may be dominant, going to concerts and music events is also still popular. In fact 30 percent of 18 to 24 year olds will attend at least once music event per month!
There are a ton of other great facts in this infographic, so make sure you check it out!
