Streaming Music Consumption Habits Change with Coronavirus Lockdown

Streaming subscriptions remain the number one growth driver in the global music market, accounting for more than 70% of spend on music last year. Yet, as measures to halt the spread of COVID-19 begin to reshape the lives of consumers, music streaming is experiencing a temporary drop in consumption. No listening in the car, no commuting to work, and the need to share the home spaces with family members, limits personal music listening opportunities, Futuresource Consulting's research finds.

Positive Grid announced Spark, a smart guitar amp and accompanying app (iOS/Android) driven by intelligent technology to offer real-time accompaniment, Auto Chord detection and intuitive practice features for players of all levels. Spark also functions as a full-range, 40-Watt combo amp and features a variety of tone-shaping options plus amp and fx modeling built upon the company’s award-winning BIAS engine. The intelligent guitar amplifier and proprietary voice-activated app generate real-time practice tools and backing accompaniment.

After a dynamic few years in the music and audio industries, 2018 and the first half of 2019 have once again been marked by the continuous growth of global music streaming subscriptions, with this momentum expected to continue in the short to medium term. By 2023, Futuresource expects the number of streaming subscriptions to exceed 425 million globally, representing over 90% of total consumer spend on recorded music, according to its latest Streaming Music Outlook & Service overview report.