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New study: young people prefer to reward artists and peers for music

Written by Rich Fiscus (Google+) @ 17 Jun 2008 1:10 User comments (7)

New study: young people prefer to reward artists and peers for music British Music Rights (BMR), an organization that represents British Academy of Composers & Songwriters, Mechanical-Copyright Protection Society, Music Publishers Association, and Performing Right Society. They've just published the results of a new study that looks at how young people, primarily between the ages of 14 and 25, feel about music and artists. More to the point, it discusses what these attitudes mean for those who make money from music.
The report's key findings were interesting to say the least. They definitely indicate a lot of potential for artists to make money, but don't seem to look so good for labels. On the whole, the respondents indicated that they spend money in no small part to support artists. In fact they said that 60% of their music budget was spent on live music rather than recordings.

At the same time young people value the social experience of trying out music others recommend and making their own recommendations to their peers. 4 out of 5 people indicated that they would be willing to pay to use a legal file sharing service.

But that doesn't mean they've given up on CDs. While the obvious conclusion from the siginificant drop in CD purchases over the last few years you might think young people don't place any value on the medium. Not so says the report. In fact many consider buying a CD to a better tribute to artists they prefer than downloading, even commercially.

Certainly the conclusions presented are a step forward compared to the propaganda we're used to seeing from the music industry. It states "For the music and technology sectors, the findings of this survey are likely to prove both challenging and a cause for optimism. However, there are clearly huge opportunities to realise the full potential of music in the digital market while satisfying the demands of both industry and fan alike."

Clearly there is a lot of good information in the study, which you can read in its entirety on the BMR website, but as it rightly points out there are a lot of challenges to be met. From what we've seen so far it's fair to say the biggest one is music executives' lack of vision.

Imagine what a study on that would look like.

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7 user comments

117.6.2008 2:08

Quote:
From what we've seen so far it's fair to say the biggest one is music executives' lack of vision.
Ya think?

217.6.2008 14:57

NEWSFLASH - Most young people would prefer FREE music!

NEWSFLASH - Most young people don't understand business or economics. Well... most old people don't understand economics either.

As far as I know, no artist has ever "made it big" without the backing of an "evil" record company. (Of course, once the artist is successful and they've fufilled their contract, they don't need the label anymore.)

This message has been edited since its posting. Latest edit was made on 17 Jun 2008 @ 15:02

318.6.2008 4:50

Originally posted by DVDdoug:
NEWSFLASH - Most young people would prefer FREE music!
How young is young?
Most people would prefer free, but this wouldn't be good for music in general!


NEWSFLASH - Most young people don't understand business or economics. Well... most old people don't understand economics either.

It seems most of the music execs are in this boat too! Life preserver anyone?


As far as I know, no artist has ever "made it big" without the backing of an "evil" record company. (Of course, once the artist is successful and they've fufilled their contract, they don't need the label anymore.)

True but this was before the advent of something called the internet. If the riaa would get their nose out of the small bands business, i.e. collecting royalties they never see unless they are a "member", you might see a band or two make it big.

This message has been edited since its posting. Latest edit was made on 18 Jun 2008 @ 4:53

418.6.2008 11:48

Ya I gave 10 to a group on myspace because I liked their tunes and had a interesting talk with the guy that ran it (London after midnight), I would rather prefer to find my own daa and donate to the ones I belive deserve the money, I sure as hell wont give me money to the vile retail outlets and media mafia....

518.6.2008 18:57
atomicxl
Inactive

I buy way more cds nowadays solely because of Amazon. Most of their albums are like $10.99 or less. Usually its like $9.99 or less for the stuff I buy. The MP3 version is like $8.99. I'm not big on getting a physical copy, but if its only $1 more, i'll take it. Then you get free shipping if you spend $25 or more so I usually end up spending more than I expected but for some reason its ok to me.

I guess thats the result they were looking for when they hatched the pricing scheme.

618.6.2008 19:01

Originally posted by atomicxl:
I buy way more cds nowadays solely because of Amazon. Most of their albums are like $10.99 or less. Usually its like $9.99 or less for the stuff I buy. The MP3 version is like $8.99. I'm not big on getting a physical copy, but if its only $1 more, i'll take it. Then you get free shipping if you spend $25 or more so I usually end up spending more than I expected but for some reason its ok to me.

I guess thats the result they were looking for when they hatched the pricing scheme.

ya be that free shipping is only avalbile on some items...

720.6.2008 16:28

If the singer or group does a song I like, which I usually get as a freebie from the Amazon.com website, then I'll pay for an album as soon as I get paid.

I have no problem paying a fair price for services rendered, as long as I know it is going to the person that created what I like to hear.

This message has been edited since its posting. Latest edit was made on 20 Jun 2008 @ 16:29

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