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Business News (more headlines) 02-03-2016

Nielsen Expands Global Entertainment Thought Leadership With Release Of Music 360 China Report

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Nielsen announced the release of its first Music 360 China report, a landscape study of music fans and consumer behavior in China. The report is the first international edition of Nielsen's annual Music 360 study outside of North America, and is available in English and Chinese.

The report is a comprehensive study of consumer interaction with music in the world's most populous country. It provides an in-depth view of music consumption as well as media behaviors, live event attendance and device ownership and usage, with analysis on how Chinese consumers are interacting with music in their daily lives.

China is a music market of enormous untapped potential, with an online user base of 650 million people and a growing number of licensed digital music services. Spending in China is projected at $56 trillion over the next decade, driven largely by young, affluent, connected consumers with disposable incomes. And Nielsen's Music 360 China report reveals that 83% of the most affluent Chinese consumers are music fans. Other key findings include:

* Seventy-two percent of the general population of China listens to music for an average of 16 hours a week. This rises to 82% for the most affluent tier of Chinese consumers.
* Music is largely consumed online, particularly for the most affluent tier of consumers; 66% of music listeners use a streaming service in a typical week, rising to 71% for the most affluent tier of consumers.
* For the most affluent music listeners in China, live events are even more popular than they are in the U.S. 57% attend live music events compared to 51% of the U.S general population.

"China's growing number of connected consumers and affluent millennials means big potential for global marketers," said Erin Crawford, SVP Entertainment/GM Music, Nielsen. "Our Music 360 China report shows that music is a real point of passion for consumers, and provides critical insights for companies looking to engage with music fans in China."

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