Digital Music Could Surpass CD Sales By 2012

 

Infinite Dial 2008 Report Shows Increase In Weekly Online Radio Audience


The Infinite Dial 2008: Radio's Digital Platforms, the latest study by Arbitron and Edison Media Research, shows continued growth in usage and ownership of various forms of digital audio platforms, including online radio, iPod/MP3 players, and podcasting.

Key findings from The Infinite Dial 2008: Radio's Digital Platforms, include:
 
The weekly online radio audience increased in the past year to an estimated 33 million. Thirteen percent of the U.S. population age 12 and older have listened to online radio in the past week; up from eleven percent (approximately 29 million) in 2007. On a weekly basis, online radio reaches more than one in seven 25- to 54-year olds (15%).

AM/FM radio continues to have a big impact on people's lives. The study asked consumers to rate the impact different digital audio platforms has on their lives. More than one in five (21 percent) consumers said radio has a big impact on their lives; ranking second only to mobile phones (33 percent) as the audio platform/device that has the biggest impact on people's lives.

iPod/Portable MP3 player ownership continues dramatic growth. Nearly four in ten (37 percent) own an iPod or other brand of portable MP3 player; up from 30 percent in 2007 and more than two and a half times the number in 2005 (14 percent). Nearly three-quarters (73 percent) of those ages 12-17 own a digital audio player.

Audio podcasting usage continues to increase along side the proliferation of iPod/MP3 player ownership. Eighteen percent have ever listened to an audio podcast; up from 13 percent in 2007. Nine percent have listened to an audio podcast in the past month (an estimated 23 million).

More than four in ten weekly online radio listeners have a profile on a social networking Web site. Those who regularly listen to online radio are much more likely to participate in social networks; 41 percent of weekly online radio listeners report having an online social networking profile (compared to 24 percent of the total 12+ population);  more than one-third (37%) visit social networking sites nearly once per day or more.

The Internet is gaining on radio as the medium to learn about new music. In 2008, radio is mentioned as the medium "you turn to first to learn about new music" by about half of consumers (49 percent), with Internet at 25 percent. In 2002, radio was mentioned by nearly two-thirds of consumers (63 percent) for this perception, while only nine percent mentioned Internet. 

"Traditional radio and Internet-only radio must realize that they are now part of an even broader world of online information and entertainment options and respond accordingly," said Pierre Bouvard, president, sales and marketing, Arbitron Inc. "Advertisers who want to go where the trends are pointing need to be more involved with the new forms of audio media as they continue to expand."

"Users continue to prove that they want to consume radio on their terms," said Tom Webster, vice president, Edison Media Research. "On-demand media and a wealth of portable devices are creating listening occasions that were previously either unavailable or under-utilized, which is increasing the overall demand for audio content."
 

 

Music123 Announces Trade-In Cash Out Service For Used Music Gear

Trade-In Cash Out (TICO) is a new program launched by Music123 to give customers the ability to trade in their used musical instruments and equipment. Through a simple four-step process, musicians can exchange their used electric or acoustic guitars, keyboards, bass guitars, drums, cymbals, or other music gear for cash or a credit.

The Trade-In Cash Out process starts with the customer describing their music gear with a free, no-obligation quote form that's submitted to the TICO website. After submission, the customer will receive an offer for their music instrument or equipment. If the customer accepts the offer, he ships it to TICO using a pre-paid shipping label provided. After the shipment is received, provided the trade-in matches the customer's description of his gear, a credit or check for cash is sent.

 

 

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