The just-released Music Impact Report 2023, delves into TikTok's pivotal role in the global music landscape, offering intriguing insights into music discovery, streaming habits, user engagement, and the platform's significant contribution to the music industry's revenues.
In a digital era pulsating with ever-evolving cultural shifts, TikTok stands as a transformative force at the intersection of social media and music. This dynamic platform has not only redefined the way we consume content but has become a powerhouse for music discovery, shaping trends and catapulting artists into the limelight. Today, we dive into the heart of TikTok's impact on the music industry, exploring the key revelations unearthed by the Music Impact Report—a collaborative venture between TikTok and Luminate, a trusted source of entertainment data and research. As we unravel the report's findings, we delve into the profound influence TikTok wields over the musical landscape globally.
From the platform's ability to fuel music discovery to its
users' avid engagement with streaming services and their
tangible impact on the music economy, each revelation
underscores TikTok's unique position in shaping the
future of the music industry.
Stay tuned as we traverse the harmonious realm of TikTok's musical universe, exploring the symbiotic relationship between the platform and global music culture, and shedding light on how TikTok users are not just consumers but active contributors to the vibrant tapestry of the musical experience.
TikTok's Melodic Magnetism
TikTok emerges as a powerhouse for music discovery, with users globally being twice as likely to unearth and share new musical content compared to users on other social or short-form video platforms.
Globally, TikTok users are significantly more
likely to discover and share new music content
on social and short form video platforms than the
average user of social or short form video
platforms, amplifying artists and their music across
all key markets analyzed.
In the United States, TikTok users lead the pack, exhibiting a twofold likelihood of discovering music compared to the average user on similar platforms.
Harmony in Streaming: TikTok Users' Sonic Choices
A resounding chord strikes as the report discloses that TikTok users aren't just discovering music but actively engaging with it. Globally, they showcase a significantly higher inclination to subscribe to paid music streaming services, with a staggering 62% of TikTok users in the United States subscribing, as opposed to the 43% overall. Furthermore, the report establishes a robust correlation between TikTok engagement and increased streaming volumes.
TikTok Users Generate Value via Streaming:
in the US, 62% of TikTok users pay for music
streaming service, compared to 43% of
consumers overall. Monetary Crescendo
Beyond the App
TikTok users orchestrate a financial crescendo beyond the digital realm, outspending the average music listener across various music-related categories. In the United Kingdom, their spending on music purchases outstrips average listeners by 49%, while in the United States, TikTok users attend live music events and purchase artist merchandise at rates higher than the overall music listener population.
TikTok users spend significantly more money
across music-related categories compared to the
average music listener across all markets analyzed,
establishing them as a highly valuable
audience to the music industry.
In the US, 38% of TikTok users attended a live music event and 45% purchased artist merchandise in the past 12 months, compared to 33% and 35% of overall music listeners, respectively.
Global Harmony: TikTok's Bridge to International Sounds
TikTok transcends borders, connecting local artists with a global audience. Users worldwide display a unique penchant for international music, surpassing the preferences of the average listener. In the UK, TikTok users exhibit a staggering 77% higher likelihood of seeking access to global music artists. Meanwhile, in the US, almost half (46%) of TikTok users actively listen to non-English music, underlining the platform's role as a global music ambassador.
TikTok's audience exhibits a unique preference for
international music, far exceeding that of the average
listener across all markets analyzed. This is most
evident in their music streaming preferences.
This audience is also 33% more likely to consider having access to global music as extremely important.
TikTok's Influence Echoed: Voices from Within
Ole Obermann, a key figure at TikTok, emphasizes the platform's pivotal role in music discovery and user engagement. Luminate's Nick Lanzafame highlights the report's significance, underscoring the collaborative effort to showcase TikTok's impact as a data-driven force in the music industry.
This report not only solidifies TikTok's reputation as a musical trendsetter but also underscores the platform's unique and invaluable contribution to the ever-evolving global music landscape.
For the full report click here.
