You're watching...
CMA senior director of marketing research Karen Stump on the CMA study on country music fans and finances.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Country music is -- number one full -- and America among adults eighteen to 54 that's impressive about 42% of Americans say they are country music fans.
It's almost a hundred million people.
It is a great cross section of America to so -- about finances and that's just what the Country Music Association has done hit -- tell us what they found out.
-- -- senior director of marketing research for the CMA.
Karen thank you so much for joining us this is an interest thing piece of research what surprised you when you looked into the finances of country music fans.
Well I think like the general population we find today our country music fans are positive about their finances -- into the future.
They're planning on spending more money weren't seeing them planning to spend more money on not only music digital music and physical CDs.
-- food and groceries and travel -- the some of the areas where they're planning to spend more money in the next twelve months and I was.
Interesting that you did the study at all you know at the zoo this is music industry you're interested in Europe about people's finances but basically -- The average person was around 45 -- now completed content had a household income of 75000.
Of them pretty nice cut into America.
What what interested me now is that compared to -- year about.
And expectations for next year household -- -- all -- -- so no change whatsoever they -- Well I think that that.
-- -- -- that consumer has -- rates that point where they're comfortable with their finances that the worst is over for that you know the general economy is began treating people -- sort of adjusted for the economy.
That applies to our fans as well we we -- all segments of the population.
As you spoke about we have a high median -- come cities consumers country -- they have discretionary money to spend and there planning to -- it going forward.
Do you think businesses do a good enough job of targeting this particular.
Pot all the country these consumers in particular.
Well I think they can always do a better job and that as the as the CMA has -- resource to the country music industry for promoting and growing the music as an industry.
We feel that -- -- that is helping businesses understand the country consumer.
And that has been the primary reason behind why we do these types of studies and this research for our members to help them make more strategic decision -- partnerships with them the market.
-- still isn't though because only 20% said they would invest in really risky stuff so they're still like.
You know they're not expecting their financial.
Situation to get any better they're not willing to take risks so I think that says something.
I think the country consumer is a Smart about their investments -- say if you the study also showed that.
They're more likely to seek advice from financial planners and financial services what's what's a surprise to us is Steve mentioned earlier -- surprise me.
I think that -- speaks to their cost says that there they want to be Smart about their investments they're keen higher priority in investment right now is in the retirement planning.
So again they're they're Smart they want to think about their family long term and and again be cautious in their investment.
Very interesting stuff -- -- but the Country Music Association -- in the process of losing him moving to Nashville.
The lucky -- it's a great city and thank you for being here thank you for having and I appreciate it thank you only 18%.
