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Music Industry Market Research

Market Research for the Music Industry
Audio and Video Market Assessment Services

Survey consumers about their musical tastes

According to Nielsen SoundScan, there was a 5% decrease in album sales in the U.S. in 2006, but a 65% increase in digital sales over 2005. Overall music sales increased 19% in 2006, when all albums, singles, videos, and digital downloads are combined. The typical buyer is getting younger. Country is hot. Rap is not. Classical and soundtracks are warming are fast. Digital downloads, instead of hurting the industry, are actually revitalizing it. More people are listening to more music—more genres through more venues. People are talking about online music services over the water cooler, and the same people are spending more and more money on music—mostly digital, but also live. How can you stay on top of these trends and ahead of the competition?

Audio and Video Testing for Increased Success in the Music Industry

Online market research reliably defines trends

At Market Reader Pro™’s, our international online market-research panel combined with our audio and video capability allow us to offer our clients fast, reliable, direct-to-consumer research data.

In addition to our online research, we also offer focus groups for when more personalized, qualitative data is needed. Call us to talk about how we can design a custom study for you.

Below are just a few of the questions that consumer research can help you answer.

Save Time and Money, Decrease Risk—Ask the Listeners for their Opinions

Focus groups can show you who’s hot and who’s not

• How do consumers want their music packaged? Singles, albums, or a few songs at a time? With or without videos?
• How can you capitalize on TV as a source for introducing new music?
• What is the best way to profit from digital downloads?
• What draws music consumers’ interest at the point of purchase? On line? In stores?
• Which artists are fans watching most closely right now?
• What would attract more fans live concerts?

Music Video Testing Case in Point

MarketReaderPro™, using its upgraded Advantage3D® server, supplied music video testing services for Somerset Entertainment (http://www.somersetent.com), a Canadian based company that produces 75 to 100 albums per year. Only six days after receiving their raw media files, MRP produced six different Web ready streaming music videos, designed a questionnaire related to the videos, built an online survey, and collected over 1,500 responses. In less than one week, we produced the action report that resulted in Somerset Entertainment changing the song samples heard in over 2,000 interactive displays across the US. Approximately four weeks after starting with the Company, Somerset Entertainment began to see the fruits of our labor, as sales of the tested album started to increase.

Test new audio and video concepts online