Brits have a reputation for being music lovers and the latest study carried out by BPI shows just how much people are prepared to spend on their passion.
The way the music business operates these days is a lot different to how it used to. Technology plays a large role not only in the production and marketing of new music, but also in the way consumers listen to it.
Smartphones and tablets have seen a significant increase in sales thanks to their connection to music. And it is said that music has helped earn £11 billion in tech sales.
The best form of medication
Music plays such a big part in our everyday lives that it is often said that it is the best form of medication. It has the power to completely change our moods and this makes it a powerful tool.
This is why when buying a home – whether it be your first step onto the ladder or a retirement property from McCarthy and Stone – two of the first things you are likely to consider are where you’ll connect your music and place your speakers.
While years ago you had to rely upon a radio or large stereo, these days most people listen to music via their smartphones, tablets or laptops.
The study carried out by BPI, a top music industry body, shows that every time there is a 1% increase in music demand there is a 2.2% increase in tablet demand. Music demand rises also increase demand for smartphones by 1.4%.
UK consumers spend more on music than consumers in any other developed country and spend an average of 25% more than any other nation. However, the USA has also seen an increase in demand for British music.
British music accounted for just 7% of records sold in the USA in 2007. However, a few years on and that figure has doubled. As more British artists burst onto the scene, the demand is only set to increase.
As technology has become the main way to listen and share music, it is no surprise that sales have seen a significant rise. Music has really boosted the UK’s economy and now record labels are working alongside technology companies to create digital musical experiences.
The bond between music and technology is unlikely to disintegrate anytime soon. Advances in technology are constantly being made and more effort is likely going to be placed upon improving the digital musical experience over time.
The smartphone and tablet sector is currently one of the fastest growing, and British musicians are going to benefit the industry with their continued creativity.
Image courtesy of emmolos/flickr. The words and opinions above were provided by a third-party, and as such this should be considered a ‘sponsored post’.