Is classical music streaming’s next genre? was the question asked by a MIDiA survey commissioned by classical music streamer IDAGIO. The results which are published in a 26 page report show that classical music streaming grew 46% in 2018 representing 37% of the total classical music market which is worth $384 million globally. The US was the largest classical music region with 38% of the global market revenue and 63% of the streaming market revenue.
Till Janczukowicz, Founder and CEO, IDAGIO said, “This research points to a fruitful and prosperous future for audiences, artists and for classical music as a genre, showing that 35% of music consumers are classical music fans. Classical music is the fourth most popular music genre and has more fans than R&B or hip hop. Streaming plays a key role in shaping the future of classical music and in introducing the genre to new audiences across the globe, with 30% of listeners under 35 and 31% aged 25-34. Streaming can generate moments of serendipity: 42% of listeners state that they are discovering more music on streaming services than they would through other traditional formats.”
The Classical Music Market report highlights
- Classical recorded music revenue was $384 million in 2018
- Global streaming revenue was $141 million in 2018
- Classical music listeners have an average age of 45.5, with 44% of listeners aged under 44 and 30% aged under 35.
- Radio and CDs are still the primary ways classical music fans listen with 29% of listeners regularly consuming classical music via YouTube/Vevo
- Classical music is the fourth most popular genre across the globe and classical listeners represent 35% of the adult population
- 31% of classical music listeners already stream classical music via audio streaming services or YouTube
- 40% of classical listeners believe that playlists are a great way to discover classical music
- Top classical genres are 1) Orchestral 2) Easy-listening Classical and 3) Vocal
To download the full report go here.
