The impact of COVID-19 on music consumption and music spending.

ABSTRACT: COVID-19 induced restrictions ordered by governments around the world have been an exogenous shock to the music industry, which we divide into two affected groups: 1) live music events and 2) recorded music. While the impact on live music events is rather obvious, it is unclear how the current pandemic is affecting the recorded music market. Hence, we study consumers' pre- and post-pandemic shifts in consumer spending (in euros) and music consumption (in hours) across live music events, as well as the digital and physical submarkets of recorded music, in the world's fourth largest music market, Germany. Relying on an online bi-annual panel capturing five waves between winter 2018/19 and winter 2020/21, we find that the COVID-19 pandemic is accelerating the continuous trend towards digitali

SUBMITTER: Denk J 

PROVIDER: S-EPMC9106175 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature