Asian-Americans Spend The Most On Music
With record declining in the digital age, we’ve seen artists try different tactics to ensure their money. Jay Z partnered with Samsung selling a million copies of his Magna Carta Holy Grail album before it was released. His wife, Beyonce, beat the bootleggers by releasing her latest, self-titled album out of nowhere.The Wu Tang Clan is getting creative, releasing one copy of their next album and auctioning it off for expected millions. Everyone else has to depend on their fan base to feel them and buy their music and concert tickets.
One demographic that music artists can depend on is the Asian-American community. According to Billboard, this group is responsible for the most purchases of music. Nielsen has describeAsian-Americans as “affluent, well-educated, geographically-concentrated and technologically savvy.” According to the latest Nielsen numbers:
Asian-Americans spend more on music than the average American consumer by a margin of $112 to $105. They spend more on live music — $44 per person each year — than any other multicultural segment of the population. The $19 they average on annual CD purchases is $6 more than the national average. They also spend twice the national average on music gift cards.
Asian-Americans’ affinity for new technology is attributed to their music purchasing habits being that they are more prone to keep their devices loaded with music.
