UK Music and Other Audio Market Report
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Providing the most comprehensive and up-to-date information and analysis of the Music and Other Audio market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Products covered in this Report
This Report examines how people consume audio content in the UK. Audio content refers to:
- Physical media including CDs and vinyl
- Streaming of free or paid-for music using online services or mobile apps
- Downloading of music
- Streaming or downloading of podcasts
What you need to know
2017 was a very good year for the UK music market. The British Phonographic Industry (BPI) reported that music consumption increased by 9.5% across all formats with 135.1 million albums streamed, downloaded or purchased. Growth was driven by a 51% increase in streaming to 68.1 billion streams. Mintel estimates that music industry income increased by 15% in 2017 to £831 million. As take-up of paid-for music streaming services grows and free streaming services look to boost advertising, Mintel expects streaming income to continue to increase significantly over the coming years leading to more overall growth for the market.
Beyond growth in streaming, the other positive story for the music industry has been the resilience of the physical market. While fewer CDs are being purchased, some 26% of people still bought a CD in the last three months. The vinyl market meanwhile is still booming, highlighting the desire for tangible ownership in a digital world. Digital music purchases are declining sharply though with the format unable to compete with streaming services.
One of the most exciting developments for the music industry, and audio in general, has been the introduction of voice-controlled smart speakers, such as the Amazon Echo and Google Home.
Not since the introduction of the smartphone has a new physical device had such potential to significantly alter and add to people’s consumption of audio content.
Expert analysis from a specialist in the field
Written by Rebecca McGrath, a leading analyst in the Media sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The introduction of voice-controlled smart speakers, such as the Amazon Echo, has been a very exciting development for audio markets. As the popularity of the device grows it can significantly impact how, when and which content people are listening to. Streaming services are now competing to best understand how to provide people with the most appropriate content based solely on audible requests/cues.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
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Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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