Streaming Music Subscription Services Fuel Strong Music Market Growth

Futuresource Consulting has just completed their latest round of research into the global music market and the conclusion is that the industry is celebrating its strongest performance in 15 years. Global consumer spend across packaged, subscription and pay-per downloads grew by 5% to reach almost $19 billion, primarily fueled by the growth in streaming music subscription services, which accounted for one quarter of all music market spend.

Futuresource Consulting has just completed its latest round of research into the headphones market. According to its new report, worldwide shipments of headphones grew by 8.5% in 2014 to 309.5 million units. The majority of headphones sold are in-ear models (60%) and wireless headphones are the fastest growing category.

Futuresource Consulting, a specialist research and knowledge-based consulting company, delivers its analysis on the home audio market trends and technological developments at the 2015 International CES. Futuresource notes the growth of wireless multi-room audio (MRA) solutions, estimated to reach 43% this year, and comments on high-resolution audio developments.

Between May and October this year, Futuresource Consulting interviewed more than 8,000 people about their intent to buy wearable technology and saw a significant increase in the intent to purchase. There was a 50% increase in intention to buy fitness trackers and a 125% increase in intention to buy smartwatches.

Futuresource Consulting hosted its Audio Renaissance event in London on 23 October featuring prominent industry executives to explore the future landscape. “The Audio Renaissance: Market Dynamics in the New Audio Age” conference explored the business opportunities within music and audio, the services, hardware and content that will shape the future landscape.

Futuresource Consulting has just completed its latest round of research into the headphones market. According to the new report, the market continues to climb skywards, the global headphones market expanded by nearly 10% in volume last year to reach 286 million units shipped, triggering 16% growth in retail value and revenues of $8.4 billion.

Futuresource Consulting has released its latest strategic report on the music market, which includes packaged and streaming figures. Streaming music subscription services are expected to double revenues in 2014 compared to 2012 and will exceed $3 billion in USA and Western Europe this year.

Futuresource Consulting has just completed a round of research into the Home Audio market, with the key trends and performance characteristics of the market for Q1 2014, as well as looking beyond to 2018, outlined in a new report. The key findings will be also discussed at a half day event in London in October, exploring the business opportunities within music and audio.