Online Music Listening Making Push, Downloads Falter
Teens age 13-17 bought 19% less music in 2008 than they did in ’07 according to a new NPD survey. CD purchases declined 26% and paid digital downloads fell 13% compared with the prior year. 32% of the teens who bought less digital music "expressed discontent" with the music available and 23% said that they already had enough music. 24% of teens said they had cut back all entertainment spending.
WHY BUY WHEN YOU CAN LISTEN FREE?
In contrast, NPD’s music tracking surveys noted sharp jumps in teen’s usage of online and satellite radio listening in 2008. 52% of teens istened to online radio in 2008, compared to 34% in 2007. Downloading or listening to music on social networks also saw a large increase from 26% in 2007 to 46% in 2008. (more)