A site called Moneytips has published new information based on how people spend their money on music. Here are some highlights.
In 2014 (the most recent year for which we have stats), the average American spent $48 a year on live music. That’s pro-rated over 320 million people, of course, and not everyone goes to shows—but given the price of concert tickets, you’d think that the number would be higher, wouldn’t you?
In 2014, the average American spent $18 buying recorded music. No, that’s not a typo. That covers CDs, downloads and vinyl.
And as a group, Millennials spent an average of $163 per year on music. Of that, just $15 went to physical music product. They spent about the same on streaming music subscriptions—and that number is going up.
How do you compare?
i don't mind spending good money on vinyls because my children and my children's children will be able to enjoy my flawless taste in music— Anthony Quintal (@LOHANTHONY) July 18, 2016