The International Federation of the Phonographic Industry (IFPI) published its Music Consumer Insight Report, showing everything you need to know about the world of global streaming. The report covers 20 of the world’s largest markets and highlights how consumers engage with recorded music between the ages of 16-64.
Most engaged with streaming are the 16-24 age group, while 57% use a subscription service. Perhaps the most surprising and important finding is that video streaming makes up 52% of on-demand music streaming, with Youtube accounting for 47% of on-demand streaming. One complication of the report is its finding that annual revenue per Youtube user is less than $1 compared against $20 for Spotify. Moreover, despite modern trends 86% of consumers still listen to radio, and 25% of all listening time coming from radio sources.
Frances Moore, chief executive of IFPI, commented on the report:
“This year’s Music Consumer Insight Report tells the story of how recorded music is woven into the lives of fans around the world. As it becomes increasingly accessible, it continues to be embraced across formats, genres and technologies… Record companies are working with their partners to sustain and develop these rich and diverse ways in which music is being enjoyed, ensuring that it continues on its exciting journey around the world.”
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