70% Thumbplay Users Stop File-Sharing Their Music.
According to a new study released by Thumbplay, a cloud-based music service, 70% of their users stopped file-sharing music upon engaging with Thumbplay Music.
Out of a pool of 500 respondents, that leaves 150 who – even after gaining access to more than 10 million songs – still desire to use P2P music services.
This indicates that, for the most avid fans, a void in the market exists. Unlimited, on-demand access to music isn't enough to quench their thirst; they want more.
Additionally, 80% of respondents revealed that they migrated from Pandora to Thumbplay Music. Of that 80%, 30% of respondents suggested that their reason for switching to cloud-based music was to gain access to an unlimited catalog.
The takeaway: As Hypebot has suggested before, the wider that streaming music services proliferate, the fewer users will employ P2P music services. The challenge is to raise awareness for legal those services. However, despite these efforts, a small percentage of users will still file-share their music regardless.
Given that 30% of Thumbplay Music users migrated from Pandora in order to gain access to unlimited, on-demand music streaming, this suggests that Slacker's new business model is promising. In the coming months, the radio service will be offering free radio in the front and paid on-demand music streaming in the back.
Slacker has the potential to convert users of their free radio service into paying subscribers. Overall, if the music ecosystem is given the room to evolve, getting users past music piracy is possible in the 25 – 34-years-old, male demographic.*
How can music piracy be resolved in the 18 – 24-years-old group?
*Out of the 500,000 people that have downloaded Thumbplay Music, this group is the largest. Therefore, this group is the most representative of the analysis made.