With advancements taking place in the music & audio market, consumer inclination has been quite significant. The United Kingdom has a major music loving population who are usually on the hunt for technologically up-to-date audio streaming platforms and devices. It has been noted that, the introduction of voice-controlled smart speakers, like Amazon Echo, has made a prominent impact in the audio streaming market. In order to study other trends and innovations, a new report has been included to the broad online repository of Market Research Hub (MRH). This report is titled “Music and Other Audio - Cds, Streaming, Downloads & Podcasts – U.K. - April 2018”, which discourses the numerous aspects of the UK music & audio industry for the current as well as future period until 2022.
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According to research specifics, streaming services are now challenging, with an aim to understand how to address people with appropriate content exclusively based on audible requests/cues. The research report starts with the executive summary that includes useful statistics such as, streaming growth motivates industry income growth by 15% in 2017. Moreover, the assessment reveals that audio streams acquire more than half of music consumption in the year 2017. Furthermore, the report discusses the key players such as YouTube and Spotify, in a precise manner. In the U.K., more than eight people out of 10 free stream on YouTube. Also, nearly 6 people in 10 are paid streamers who use Spotify Premium. This section drops light on the consumer segment, which discusses the use of music formats and devices for listening music. The attitude of the people towards the use of smart speakers is also enclosed in this smart research study.
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The following section works to include information targeting the prime issues & insights. The use of voice-control speakers is expected to create a major impact on the U.K music and audio market in the coming years. However, YouTube is pressurized by the music industry, which seems to be a concerning issue. Later in the report, readers can gather knowledge about market size and forecast. This fact is smartly detailed with the help of figurative data; that is, U.K. music industry income from physical, digital and streaming, 2012-22. Moreover, deep focus on the market drivers and market segmentation is presented to evaluate the target market in a systematic manner. Some other important facets mentioned in the report are brand research, podcast payment & advertising and launch activity & innovation.
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