Half of the Brits not subscribed to music streaming services say it’s too expensive
Only a tenth of Brits currently own a subscription to a music streaming app such as Spotify, Apple Music, Deezer, Tidal however, pricing remains a major problem, according to a YouGov study from Zuora.
Spotify's premium subscription
The research, of 2,115 UK adults in May 2016 found that of the 90% of Brits not subscribed to such apps, 48% claimed the subscriptions - typically an average of around £7.07 per month across the board; – are too expensive.
A total of 3.7m Brits, 71% of UK music streaming subscribers said the disruptive consumption format “changed how they listen to music forever”.
Half of subscribers said they will never buy a CD again, additionally 37% said they ‘rarely’ listen to radio, just hinting at the prominence of music streaming which grew by 49% in 2015, states UK Music.
In broader streaming news (be it music or video), 40.2m Brits currently subscribe to at least one streaming service, with around 12% of their disposable income reportedly being invested in such platforms.
Tien Tzuo, chief executive of Zuora, said: “Subscription-based music consumption is clearly gaining maturity, with well-established services such as Spotify and Apple Music, and new entrants like Amazon, offering endless access to content. However, with only 10% penetration in the UK music market, there is a lot more room to grow.
“Modern consumers are looking for outcomes, more personalised experiences to match the value they get from their ongoing streaming music investment. The winner in this race will succeed by delivering the most compelling experiences matched with tailored pricing models that meet consumer expectations.”