To stream or not to stream? That’s a question that could change dramatically in the coming year when it comes to audio content.
This article from CEPro tells us that consumer audio has had a resurgence in popularity in recent years. Not only that, on-demand music streaming is poised to take over physical and download music sales.
Author Robert Archer provides a roundup of some numbers behind the phenomenon.
- Streaming is gaining momentum: On-demand music streaming grew by 55% in 2014 versus 2013. Over the same period, there has been a drop in physical music and download music sales. (Source: Nielsen)
- Consumers are connecting to soundbars in more ways than one: More consumers are using soundbars for streaming audio, as well as traditional TV and movie content. In fact, 55% of consumers use their soundbars for music and other audio-related content; and more than one-third are connecting portable devices to them. (Source: The NPD Group )
- Millennials are driving audio hardware spending. Millennials now account for 44% of all audio hardware spending – representing a 9% increase over the past year. (Source: The NPD Group )
- Vinyl continues to be on the comeback trail: Record sales are up 38% over the same period in the previous year and now accounts for 9% of all physical music sales. Millennials account for 54% of those sales. (Source: Bobby Owsinski )
For those who are converts to streaming, we suggest taking a look at this post by Marc Urselli , who took it upon himself to conduct his own audio quality test of streaming services. There’s lots of information on the methods he used to test the services over LTE and Wi-Fi. While he has his preferences, the real takeaway in our minds is that streaming does not translate into low bit rates or poor quality. Which is why the audio trend numbers make perfect sense after all.
What’s your preference: streaming or downloads?
By the CEL-FI Team