State of the Economy and Personal Finances; Credit Card Usage; Financial Services and Advice; and Insurance Providers and Motivators Among Survey Topics
As part of its ongoing research and membership services initiatives, the Country Music Association announced today results from its February 2012 finances study.
Although they have not escaped the impact of the economic challenges in recent years, Country Music fans are looking favorably toward the future with 84% of respondents having a positive sentiment about their financial situation a year from now.
As with the U.S. population at large, Country fans are aggressively embracing new technology and resources to manage their finances with 42% reporting that they have no problem carrying out day-to-day banking transactions via their mobile phone, while 78% report that they are happy using the Internet to carry out financial business.
In addition to seeking advice from family and friends, Country fans are looking more toward professionals for financial advice and planning with 30% seeking input from financial planners and brokers.
Country fans overwhelmingly like the convenience of paying with a credit card for their purchases, and 72% of respondents reported a greater inclination to use a credit card affiliated with a loyalty rewards program, with exclusive opportunities to ticketed events coming in as one of the top five desirable attributes for such a program.
The survey was conducted online with respondents aged 18+ from the CMA Insider Fan Panel, a group of more than 13,000 Country Music fans recruited from various industry social nets and events. Respondents were queried on their perception of the state of the U.S. economy and their own personal financial situation, as well as household and personal use of a wide range of financial products and services including credit cards, financial planning, and insurance.
CMA’s research reports are a benefit of CMA membership. The complete findings of this and previous studies are available on CMA’s members-only website at www.My.CMAworld.com/Research.
For information about becoming a member of CMA, please visit www.CMAworld.com/membership, or contact CMA’s Membership Department at membership@CMAworld.com or (800) 788-3045.
More than 11,000 music industry professionals and companies around the globe are members of CMA. Formed in 1958 as the first trade association for a single genre of music, the organization’s objectives are to serve as an educational and professional resource for the industry while advancing the growth of Country Music around the world. This is accomplished through CMA’s strategic imperatives – CMA Music Festival and the companion CMA Music Festival television special; “Country Music’s Biggest Night™,” the CMA Awards; and CMA’s latest television venture “CMA Country Christmas.” All of CMA’s TV properties air on the ABC Television Network through 2021. For information about CMA visit www.CMAworld.com.