Nielsen Report Tracks The Music Purchases Of The 'Multicultural Consumer'
August 13, 2014 at 5:12 AM (PT)
NIELSEN has released a new report, "Listen Up: Music And The Multicultural Consumer," which looks at minority music spending in the U.S.
African-Americans, Asian-Americans and Hispanics are the “Multicultural” consumers, and are taking the music industry by storm, finds the report. According to current U.S. Census Bureau projections, the American consumer is increasingly the multicultural consumer; forecasted to become the majority of the U.S. population by 2043.
Given that Multicultural consumers account for 31% of the total spend on music and, on average, spend $7 more on music than the total market, this growing group is increasingly influencing the music market.
Not only are these consumers shaping the musical taste of the U.S. population as a whole, but they're also creating new and innovative ways to discover, buy and share music.
Key findings in the report include:
- Multicultural consumers contribute 31% of all the dollars spent on music.
- On average, Multicultural consumers spend $7 more on music that non-Hispanic White consumers.
- 34% of paid streaming service subscribers are Multicultural.
- About 54% of Multicultural listeners rely on over-the air radio to discover new music, compared with 64% of non-Hispanic Whites.