Music Streaming Services Too Expensive for Many, U.K. Study Finds
Music streaming services like Spotify and Apple Music have a "lot more room to grow" in the U.K., new research finds. According to a poll conducted by YouGov and Zuora, around 10 percent of British consumers currently subscribe to a premium service, with half of the remaining 90 percent suggesting they are too expensive.
Leading services typically cost £9.99 per month in the U.K. (about $12.30 U.S. dollars), and the poll suggests consumers would be inclined to pay if digital services would "experiment" with pricing. The study found that Spotify was subscribed by 11 percent of respondents, while Apple Music was preferred by 5 percent. A good chunk of those willing to pay (21 percent) were in the 16-24 age range.
The research pegs the number of people who pay for a streaming service at 5.2 million, and unsurprisingly more than half said they would probably never buy a CD again.
The study, which surveyed 2,100 adults, also found that people were less reticent to pay for Netflix and other video streaming services -- to the tune of 27 percent of respondents.