NASHVILLE – 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.