Sharp decline in spending on music
The results of a long-term study conducted by the University of Hamburg are available from a total of six survey waves. According to the study, monthly spending on music in almost all formats has plummeted during the coronavirus pandemic.
Only expenditure on streaming showed growth of 22% compared to the same period last year. In contrast, however, sales of physical sound carriers in particular fell drastically, with spending on CDs dropping by 25%. The live sector was hit even harder: spending on concerts fell by 80%.
There has also been a decline in the amount of time people in Germany spend listening to music. Since the study was launched in August 2018, weekly music consumption has fallen by eight percent (one hour and 46 minutes): It fell from 21 hours and 29 minutes to now 19 hours and 43 minutes.
Conventional radio in particular is in constant decline with a drop of 15%, although this is partially offset by strong gains in online radio. The latter recorded growth of 73%. According to the researchers, one possible explanation for the decline in music consumption is limited mobility and the focus on news in times of the coronavirus pandemic.
The "Music Industry in Germany" study conducted by DIW Econ is based on an online survey carried out between May 11 and June 29, 2020, in which 861 companies and self-employed individuals took part.
Original article:
https://www.musikindustrie.de/presse/presseinformationen/studien-zu-musikwirtschaft-und-musiknutzung-in-hamburg-vorgestellt
