Music Consumer Segmentation From Lagging Indicators To Leading Indicators
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The 20,000 Foot View
Consumer music behaviour, tastes and attitudes vary dramatically. The ability to delineate discrete segments is crucial for targeting music services and for artist marketing. Over the last half decade the music industry has come to understand importance of consumer segmentation in understanding music fans and buyers. But the streaming-driven shift from ownership to access is forcing a rethink in segmentation. Paying for music has become a lifestyle choice but is not always defined by consumers’ personal values and opinions.
Key Findings
- Based on music behaviour (spending and listening) can be grouped into four segments: Aficionados, Collectors, Forgotten Fans the Passive Majority
- Music Aficionados the heartbeat of recorded music spending every three months and hours a weekAficionados represent of music subscribers
- Forgotten Fans the untapped opportunity, representing of consumers and with above average time but below average spending
- Behavioural segmentation a lagging indicator, showing how act currently. Attitudinal segmentation is leading indicator, exposing what is to happen
- When Aficionados defined by their attitudes rather behaviour they become the single segment, representing of all consumers