The International Federation of Phonographic Industry (IFPI), the trade body for the international record business, released the Music Consumer Insight Report 2018 which examined the consumption of recorded music among the users aged 16-64 years in the world’s top 18 music markets.
According to the report, the Indian music market has been steadily evolving. It states that 96% of music consumers in India preferred listening to music on their smartphones, highest compared to the other countries. In the age group of 16-24 years, 99% of the consumers listened to music on their smartphones. As the country is slowly inching towards streaming services and subscription models, 96% of the music consumers in India listen to licensed music, while 95% listened to music through on-demand streaming.
This phenomena has been observed not just in India but all over the world. Licensed on-demand streaming has become popular with consumers. 86% of consumers are listening to music through on-demand streaming (audio and video). 57% of 16-24 year olds use a paid audio streaming service. YouTube has become the most popular video streaming platform across the globe. 47% of time spent listening to on-demand music is on YouTube.
The ever-growing music market in India has influenced the consumption of music. It has also affected the preference of genres which are products of popular culture. Genres which are preferred among the Indian music consumers include new Bollywood music, old Bollywood music, Indian classical music, pop and rock – in that order.
On the other hand, globally, popular genres include Pop, Rock, Dance/Electronic/House, Soundtracks (film or music), Hip-Hop/Rap/Trap, Singer/Songwriter, Classical (including Opera), R&B, Soul/Blues and Metal. Along with these genres, local music has been embraced by consumers across the globe. Since local culture influences consumers’ listening habits, local music has become a preference among music-lovers. 66% of consumers in Japan listen to J-Pop, 69% of consumers in France listen to Variété Française and, in Brazil, 55% listen to música popular brasileira.
As local music gains popularity, music listening locations too have become diverse. Indian consumers now listen to music when relaxing at home (79%). They also listen to music while cooking or cleaning (48%), travelling in a car (59%), commuting to work or education (43%) and while going to sleep (54%).
Looking at the global music consumers, younger music consumers (16-24s) listen to music while engaging in any activity and they are much more likely to listen to music on their way to work or education or while at work or education. As per the report, music consumers all over the world spent 17.8 hours per week (2.5 hours on a daily basis) listening to music in their cars, a popular listening location.
The accessibility to music has directly affected the consumption of music. With the newer innovations, technology has become one of the driving forces in the music industry. This trend can be witnessed all over the world. The IFPI report reads, “From smartphones to smart speakers, across the world, connected devices are a growing part of the listening experience. Record companies have licensed music across hundreds of digital music services allowing consumers to have easier access to the music they love, wherever they are.”
Substantiating the claim, the report states, 86% of consumers listen to music through on-demand streaming and 75% of consumers use smartphones for music consumption. Moving beyond smartphones, soon, smart speakers will become the popular device for music consumption. IFPI predicts that 15% of global consumers are more likely to buy a smart speaker in the next 12 months.
All that said, for music to sustain in a digital space, there must be a legit and fair marketplace. One of the major threats that the industry faces is that of digital copyright infringement. According to the report, globally, 38% of the music consumed is through copyright infringement, in which stream ripping has become the most used form. However, incidences of infringement has fallen by 2%, compared to 2017.
In conclusion, Frances Moore, Chief Executive, IFPI, said,
“Music unites us globally and adds enormous value to people’s lives. Record companies are essential to this as they continue to develop, support and invest in music, playing a crucial role in ensuring that it continues on its exciting journey around the world.”