Table 1.
Propositions based on COVID-19 news reporting on music spending and consumption.
Table 2.
Literature overview on music consumption and music spending.
Table 3.
Dependent variables.
Table 4.
Control variables.
Table 5.
Total market model.
Fig 1.
Effect sizes for the total market, the live market, and the recorded market.
(A) The effect size of post-COVID outbreak period compared to the pre-COVID-19 period (reference level) for total consumer spending at a 95% confidence interval. Statistically significant changes are marked. The approach of Halvorsen and Palmquist [41] is used for the transformation of the coefficients of dummy variables. For the analysis, we used balanced panel fixed effects estimation with robust standard errors in Stata 16. (B) Same as (A) only for live consumer spending. (C) Same as (A) only for recorded consumer spending. (D) Same as (A) only for total music consumption. (E) Same as (A) only for live music consumption. (F) Same as (A) only for recorded music consumption.
Fig 2.
Average partial effect sizes for the submarkets of the recorded market.
(A) The average partial effect size of the post-COVID-19 outbreak compared to pre-COVID-19 period for consumer spending on premium streaming at a 95% confidence interval. Statistically significant changes are marked. The fractional multinomial logit model with cluster-robust standard errors with respect to participants is estimated with STATA 16 and the module FMLOGIT [42]. (B) Same as (A) only for consumer spending on physical products. (C) Same as (A) only for consumer spending on digital downloads. (D) Same as (A) only for lack of consumer spending. (E) Same as (A) only for music consumption via premium streaming. (F) Same as (A) only for music consumption via free streaming. (G) Same as (A) only for music consumption via physical products. (H) Same as (A) only for music consumption via digital downloads. (I) Same as (A) only for music consumption via radio. (J) Same as (A) only for music consumption via online radio. (K) Same as (A) only for lack of music consumption.