LONDON, June 21 — In times of need, no potential cost saving is too small. And with inflation running high in the UK, Britons are cutting back on some leisure-related spending. In fact, many of them are considering cancelling their subscription to a music streaming service in the coming months.
But it would seem that this growth is slowing down somewhat due to the general rise in prices. This is particularly visible in the UK, where inflation is expected to reach 11 per cent in the fall. This is bad news for Boris Johnson’s government, but especially for the British people. Young people in the UK are the most likely to give up their Spotify, Amazon Music and other such subscriptions to cope with inflation. “The percentage of under 35s having access to a music subscription [has] dropped from 57.0 per cent to 53.5 per cent year on year,” explains Kantar in its latest report. And this phenomenon is not unique to the UK, since some five million Americans under 35 no longer pay to listen to music online.
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