Classical music streaming service IDAGIO has released “The Classical Music Market: Streaming’s Next Genre?”.
Conducted by media insights and analysis provider MIDiA Research, the comprehensive white paper dives deep into the classical music market, analysing classical music fans across eight major music markets including the US, UK, Germany, Austria, Denmark, Sweden, Mexico and South Korea. The paper explores not just the classical music market, but also the listening trends and behaviours of classical music listeners around the world.
With the report finding that classical music listeners are currently among the most engaged, it dispels some common myths about who classical music fans are and explores how streaming is enticing a new generation of listeners from across the globe to the genre.
Often considered a niche category, the study found that classical music in fact ranks as the fourth most popular music genre worldwide. The report suggested that 35% of the global adult population listens to classical music – the same percentage as country music and a higher percentage than R&B or hip hop. It also found that classical music is not just consumed by older generations, as clichés tend to suggest, but that the genre is increasingly finding its way to younger audiences around the world with 30% of listeners under the age of 35 and 31% aged between 25 and 34.
Mark Mulligan, Managing Director at MIDiA Research, said: “There is often an assumption that classical music is for an older, traditional audience that doesn’t enjoy other forms of music, but that is simply not the case. Our research revealed that while there are certainly more traditional classical music fans, there is also a new wave of youthful and digitally savvy consumers, who listen to classical music as part of a wide range of interests and tastes. Streaming is helping create a new generation of classical music fans, capturing the attention of these new millennial music consumers, and the industry is seeing that classical music is likely to see a significant shift as more younger consumers discover the genre.”
Till Janczukowicz, Founder and CEO of IDAGIO: “This research points to a fruitful and prosperous future for audiences, artists and for classical music as a genre. For some time, the death of classical music was a popular story to tell. Evidence was often anecdotal and based on observations of white-haired concert goers in western concert venues. Numbers have proven such bias wrong. Streaming plays a key role in shaping the future of classical music and in introducing the genre to new audiences across the globe.”
This study found that streaming plays a crucial part in generating new audiences for classical music, especially with features such as ‘mood-based’ playlists.
The streaming potential of classical music is highlighted by the fact that almost half of adults who stream classical music consider it to be a great way to listen to the genre and one in five classical music listeners prefer a dedicated classical music streaming service over a service that offers all genres. Streaming is becoming a key way of how listeners find new music, with 42% of listeners stating that they are discovering music through streaming services.
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