Thursday, September 4, 2014

What Leads To An iTunes Purchase?

iTunes Purchase image
Our music world is changing significantly in that it's rapidly becoming built around streaming rather than sales. iTunes sales of music downloads have decreased in each of the last 3 quarters, but that doesn't mean that people have stopped buying completely. Individual track sales are still at a billion plus per year, so significant sales activity will continue for some time even as streaming takes over our musical lives.

Since sales will be around for a bit, a good question to ask is, "What happens before someone purchases a song?" Viacom Research (the people that own MTV, VH1 and CMT) did a study that asked just that from 1200 18 to 30 year olds. Here's what they found:
  • 66% of people search for info about a song online
  • 83% make sure they really like the song before they buy it
  • 87% listen to other songs from the artist
  • 91% listen/watch the song/video on YouTube
This shows how influential YouTube is in the current sale of music, which is a great reason to be sure that you have a video available the day your songs are available on iTunes. It doesn't matter if the video is a plain vanilla lyric video, or even just a static picture with the music playing behind it. It's now an integral sales tool!

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