Music in the U.S. Is Falling by 20% from 2008 to 2020

U.N. data show music consumption is declining in the United States in 2020, marking the worst decline in decades.

More than 2.3 billion people listened to music in 2016, down from 3.4 billion in 2010, according to data from the Federal Communications Commission (FCC).

Music consumption declined by 2.6 billion people from 2010 to 2020, according the FCC.

Data from Nielsen shows the United Kingdom lost 7% of its music market from 2010-2020, a record low.

In 2020, the U:C:MDI study found music consumption in the country had fallen by 22.7% from 2009 to 2020.

The U.K., the U of S. and Germany all saw declines of 20-30% from 2010 through 2020, while Canada saw a 19% decline.

“There is a general perception that the U, UK and Germany are booming economies, but the reality is music is still a very small part of the economy,” said Chris Bowers, an analyst at the New York-based research firm Bowers and Associates.

According to Bowers: “In 2020 the number of people who consume music per capita in the UK fell by almost a third from a peak of more than 1.8 billion in 2007 to about 1.2 billion.

Music in the US is falling by 20 percent from 2008-2020.”

Music consumers are the most vulnerable among a growing number of U. S. consumers who are not in the labor force and are unable to afford high-end music, according Bowers.

It is difficult to know how many U. s. music consumers have given up music due to lack of income, lack of a good job or social isolation, Bowers added.

Bowers’ study finds that music consumption has fallen among Americans overall, but that music has declined in every demographic group except for Millennials, a generation that has made a big jump in spending power over the past decade.

Millennials have been more likely to become music consumers than other groups, Bower noted, pointing to their higher spending on music and the increasing use of streaming services.

Some of the biggest music companies have shifted away from streaming services like Spotify and Apple Music, which are heavily focused on selling music to consumers. 

“Millennium-born millennials are increasingly turning to streaming and buying music from services like Amazon Music and Spotify to consume music and to make more money,” Bowers said.

A Pew Research Center study published in February found that the median income of Millennials in the 25-54 age bracket in the 2016 U. k was $38,000, while the median age for music consumers was 36.