MRC Data’s latest COVID-19 report details how consumers have changed since March.
. During the ongoing coronavirus crisis, an artist needs to start swimming or sink like a stone, as Dylan sang. A virtual concert might be a poor substitute for a live show, but fans are increasingly interested in watching them. And while Congress has heeded the call to support the unemployed and out-of-work, artists must reach the fans who can still afford to buy merchandise.
MRC Data’s latest COVID-19 report details how much times have changed since March. Here are four key takeaways.After an initial decline, music streaming on audio platforms in the week ending May 7 climbed to 0.9% from -2.1% the previous week. Audio music streaming has steadily grown after falling to -9.4% below average in the week ending March 26. Music videos have fared better, increasing each of the last seven weeks and rising 12.5% above average during the week ending May 7.
2. It looks like consumers will continue to pay for music subscription services through the pandemic’s economic impactMRC Data found that 84% of people who added a new music subscription service in the previous two weeks said they are likely to continue paying for it after COVID-19. That was up from 79%, 76% and 78% in the previous three COVID-19 surveys.
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