Radio continues to be ‘the top reach vehicle’ for both Black and Hispanic adults, declares Nielsen in a report, noting that among people ages 12 and older, Black and Hispanic consumers make up more than 30% of the national radio audience.
This year, Pandora will have 75.9 million users in the US, compared with 58.4 million for Spotify. However, eMarketer expects Pandora’s user base in the US will decline slightly throughout the forecast period, while Spotify will see double-digit growth this year and next.
Streaming was the driver of increased music consumption again last year as in 2016, representing 54% of consumption in 2017. The number on-demand audio and video music streams grew by 43% to 618 billion.
More Americans discover music by listening to AM/FM radio than by any other means. In fact, more Americans are finding music through various radio sources than did last year, with online sources not surprisingly growing in influence.
Apple is the top platform for US adults who pay for music content online, ahead of others such as Pandora and Spotify.
Some 34.3% of US recorded music revenues came from streaming services in 2015, reports the RIAA, up from 27% in 2014.
Digital music revenues worldwide rose nearly 7% last year to hit $6.85 billion, tying physical sales in share for the first time, at 46% each.
Among American adults who use audio players in the car, two-thirds first turn on the AM/FM radio when listening to music.
27% of US consumers listened to Pandora, vs. 7% who used Spotify.
Digital subscription and streaming revenues grew by almost 29% last year to reach roughly $1.87 billion, surpassing sales of CDs ($1.85 billion) in the process, according to a report from the RIAA.