Jul 4, 2014 9:25:07 AM
Streaming services, even if it’s just an awareness of them, are at an all-time high in terms of consumer demand. Even in 2013, audio streaming services in the US grew 32 percent, as listeners streamed 118 billion music units. It is also interesting to note that digital purchases accounted for 1.3 billion music units (down -6 percent from the previous year) and physical purchases accounted for 172 million music units (down -13 percent from the previous year.)
Thanks to mobile technology, streaming has continued to grow in 2014. Edison Research recently compiled statistics on which kind of device weekly online radio listeners used:
There is also a heightened awareness of streaming music services. Pandora is the most popular, with 70 percent of the American public aware of the streaming station. iHeartRadio is next, with a 48 percent awareness. Interestingly, though Apple has such a strong presence in the technological world, iTunes Radio only comes in at 47 percent; though to be fair, the platform only launched last year. Google’s Play All Access has a much lower awareness, however, at 24 percent.
Edison Research also asked listeners about the time they specifically spent listening to iTunes Radio. Forty-one percent of said their time listening to the station was “new time,” as in, time not spent listening to music in the other ways they had before. Eighteen percent said the platform was replacing local AM/FM stations, and 14 percent said it iTunes Radio was completely replacing other platforms, such as Pandora or Spotify. Eleven percent said listening to the station was replacing their CDs or MP3 collection.
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