Immersive sound technologies are capturing the attention of consumers, with a new research study from Futuresource Consulting revealing that over half the respondents have experienced content in spatial audio. Audio Tech Lifestyles, conducted across the USA, UK, Germany, Japan and China, surveyed more than 10,000 consumers in June 2022. It also showed that Dolby Atmos was the most recognised technology, building on the already substantial awareness levels that were recorded in the 2021 study.
Changing Consumer Behaviours
“The pandemic has established a new set of audio listening behaviours,” says Carl Hibbert, Director, Futuresource Consulting. “Despite consumers pursuing out-of-home activities again, the home still accounts for the majority of listening time for music, as well as podcasts and audiobooks. Beyond the home, the car was the most popular way to engage with audio, notably for radio.”
Headphones still Hold Appeal
The study shows that headphones are the preferred device for listening to music, podcasts and audiobooks. However, listening directly on a smartphone or laptop also ranked high with Gen Z. Additionally, headphones also commanded a prominent share of on-the-go listening.
In line with results from the 2021 study, the most popular way to listen to music remained radio and YouTube, with streaming also being used by more than 70% of respondents. Similarly, music discovery was again led by YouTube, yet TikTok experienced the biggest jump in popularity when compared with 2021.
Vinyl Climbs to New Heights, Though Many aren’t Listening
Vinyl buying and listening has seen a resurgence over recent years, with the pandemic adding an extra boost to the market. Excluding China, 40% of survey respondents said that they buy vinyl records.
“What’s fascinating about vinyl, is that more than half of buyers don’t actually listen to it,” says Hibbert. “Some simply don’t have a turntable, buying vinyl purely as a collectable item. Even those who own turntables, don’t always have the necessary additional audio equipment to play their collections, or they don’t know how to set everything up properly.”
Music Streaming is Stabilising
According to this new study, the share of music streaming subscribers remained consistent with last year, showing that the market is stabilising. While standard and family plans continued to be the most preferred streaming plans, Futuresource notes that Spotify’s duo and Apple’s voice plans also grew in popularity.
In previous Futuresource Audio Tech Lifestyles studies, carried out in 2020 and 2021, higher audio quality was the most requested feature that consumers wanted to add to their streaming service. Now that most of the key streaming services offer content in high-resolution, this has dropped down into third place, being replaced by a request to be able to display the lyrics of songs.
Cost of Living Crisis Unlikely to Have Significant Impact
“Looking to the future, we asked people how they’re going to handle their streaming subscription as a result of the cost of living crisis,” says Hibbert. “One in three told us they are not planning to change anything, and will continue to subscribe. Others said they will keep the same service, but try to find a cheaper plan, while others will try to find a cheaper service. However, only 5% said that they will exit the streaming market completely.”