There’s a new survey on how people value music during the streaming era. How do you measure up?
The Digital Media Association (DiMA) has just released a new report on how we use, perceive, and pay for music in the streaming era.
The report says that in the age of streaming, the average American spends US$434 on recorded music. If you count paid subscriptions, the number rises to US$614. That’s up from the piracy days when the spend was about US$120/year.
When asked about their streaming service, 94% of Americans say they love or like it. About 90% say it’s good value for the money.
Those who stream music also buy 58% of all vinyl and CDs. They also account for 68% of merch sales and 66% of concert ticket sales.
US streamers spend about 10.3 hours a week listening to music via Spotify, Apple Music, YouTube Music, et al. Another 3.4 hours are spent on short videos on platforms like TikTok. Another 2.5 hours are spent with broadcast radio.
The most-loved feature of streaming services? The ability to see lyrics. Music videos are next and personalized playlists are a distant third.
What do streamers want out of their services? About 76% want higher-quality audio. Another 72% want short-form videos. Another 72% want early access to concert tickets sold through their DSP of choice.
This is interesting: 70% say they’d like “exclusive music content for paid subscribers that is not available on free music services.” Note that “music content” is a pretty broad term.
The whole report can be found here.
