Finetune Releases Music Trend Index Findings

Finetune Releases Music Trend Index Findings

Internet Replaces Radio as Primary Source for Discovering New Artists: Fans Still Prefer to Purchase Their Music

NEWTON, Mass., Nov. 20 /PRNewswire/ -- There is a new type of music fan that is changing the music landscape: online music listeners. Finetune's inaugural Music Trend Index uncovered the musical habits of this rapidly growing group - one that's expected to swell to 180 million by 2020, according to Bridge Ratings. Key findings show that the music fans who rely on free music download through online music sites as the primary source for music discovery still like to purchase their music.

Online music aficionados are quickly becoming a driving force in the music industry. According to the Music Trend Index, an increasing number of individuals prefer to discover new music and artists through the Internet. The study revealed that more than 61 percent of those surveyed use the Internet to discover new artists, compared to approximately one-third of respondents who still depend on the radio. This is a drastic reversal in marketplace trends for this group, as more than 57 percent of the same respondents claim to have relied on the radio as their sole means to discover new music just five to ten years ago. During the same time period, only 12 percent of those individuals used the Internet as their primary source for exposure to new music.

The Index further revealed that this dominance of the Internet's role in finding new music has not been matched by an overwhelming preference to download that music for free. Almost half of those surveyed still choose to purchase their music at a music store, while almost 22 percent prefer to buy CDs online. Almost one-third of survey participants prefer to buy their music by downloading songs online, while fewer than one in four respondents admit to engaging in free music download.

"People have come to rely on the Internet as a means to discover new music," said Martin Kay, CEO of Finetune. "We are thrilled to be part of this movement, providing music lovers with free, quality entertainment that helps inform their music purchases. The Music Trend Index confirms our belief that online music discovery and free music download is a vital component in promoting new artists and driving sales, and that online music listeners are a special breed of fan with great respect for the music and the artists."

The Finetune Music Trend Index also uncovered the following statistics:
-- More than 40 percent of respondents have discovered more than ten new
artists on the Internet.
-- The majority of respondents spend more than fifteen dollars/month on
music.
-- Individuals that download music, primarily download single songs.
-- The majority of individuals listen to music while at home. Listening to
music while driving and at work came in second and third, respectively.

About Finetune

Finetune is the ultimate digital music service -- two parts personal player, one part social network. Create your own playlists and discover new music through one of the largest online catalogs of licensed major and indie labels. Music you didn't know you love is just seconds away through Finetune's expert- and community-driven discovery engine. Never complicated and always free, Finetune comes with no strings attached. No downloads. No questionnaires. Lean back and listen, or sit up, spin and share. Just type in an artist and the experience begins -- on your browser, on your desktop, on your blog, and beyond. What music do you love? www.finetune.com.

First Call Analyst:
FCMN Contact:

Source: Finetune

CONTACT: Scott MacKenzie of InkHouse, +1-781-916-9090 ext. 803,
scott@inkhousepr.com

Web site:

http://www.finetune.com/

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