NAMM COMMISSIONS FORRESTER® RESEARCH TO PRODUCE GROUNDBREAKING MI STUDY ILLUMINATING CUSTOMER EXPERIENCE OPPORTUNITIES WITH GENERATIVE AI

— NAMM Industry Insights: A Study on Customer Experience In The Age Of AI Highlights Importance of Consumer Experience With a Focus on Customer Data —

CARLSBAD, Calif., June 11, 2024 /PRNewswire/ -- NAMM (The National Association of Music Merchants), the largest global not-for-profit music trade organization, has commissioned Forrester^® to produce a state-of-the-art study on generative AI and its impact on customer experience in the music industry. This comprehensive report delivers an outside perspective on what businesses in the music industry can do to future-proof their consumer experience with the rapid ascension of generative AI, analytics and data collection. This report comes at a critical moment as our industry is rebounding from the past 4 years and companies are being tasked with looking at how they serve current and future customers.

The study's survey group consisted of global customer strategy leaders and decision-makers, including retailers, manufacturer brands, and distributors, from both inside the music industry and outside industries, including the tech sector. This report is offered to NAMM members at the highly subsidized cost of $295 at: namm.org/membership/industry-insights.

"Generative AI tools have already demonstrated their effectiveness across global business sectors," said John Mlynczak, NAMM president and CEO. "This study demonstrates that quality customer data collection is the foundation to apply, train, and future-proof gen-AI business practices. Our goal with this study is to strengthen our industry by helping advance strategies for modernizing the customer journey with advanced data analytics."

This report is the latest offering in NAMM's Industry Insights, a series of reports designed to provide NAMM's membership with insights on best business practices and perspectives on the rapidly evolving global music industry sector. NAMM Industry Insights also includes the following reports:

• NAMM Global Report: Started in 1964 and solely created by NAMM since 2007, now including data and insights from 32 countries, including the U.S.
  
  
• Post-Show Report: Offered since 2019, this report summarizes attendee data, product launches, and member connections, integrating both NAMM data and post-show survey on key segments.

"Our industry is ready to move forward together to ensure we are all leveraging the most modern tools available to create more music makers in the world," Mlynczak said. "With this report, we have demonstrated a need and provided insights that will allow our businesses to thrive in the future world of personalized customer experiences driven by genAI."

About NAMM
The National Association of Music Merchants (NAMM) is a not-for-profit association with a mission to strengthen the $19.5 billion music products industry. NAMM is comprised of 15,400 global member companies and individual professionals with a global workforce of over 475,000 employees. NAMM events and members fund The NAMM Foundation's efforts to promote the pleasures and benefits of music and advance active participation in music-making across the lifespan. For more information about NAMM, please visit namm.org.

About Forrester Consulting
Forrester Consulting provides independent and objective research-based consulting to help leaders succeed in their organizations. Ranging in scope from a short strategy session to custom projects, Forrester's Consulting services connect you directly with research analysts who apply expert insight to your specific business challenges. For more information, visit forrester.com/consulting.

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SOURCE NAMM (National Association of Music Merchants)