The social media giant unveils its profound influence on the music industry in a groundbreaking Music Impact Report commissioned by TikTok and prepared by Luminate. Released on Tuesday, November 21st, the report is a quantitative analysis covering data from the US, UK, Germany, Brazil, Indonesia, and globally, spanning the 12 months from July 1, 2022, to June 30, 2023.
Here are some of the report’s Key Findings:
1. TikTok Fuels Music Discovery:
- Globally, TikTok users are significantly more likely than the average user to discover and share new music content on social or short-form video platforms.
- In the US, TikTok users are twice as likely to discover music on such platforms than the average user.
2. TikTok Users Generate Value via Streaming:
- Globally, TikTok users are significantly more likely to use a paid music streaming service than the average consumer.
- In the US, a staggering 62% of TikTok users pay for a music streaming service, compared to 43% of consumers.
- Engagement with an artist’s music on TikTok strongly correlates with global streaming volumes.
3. TikTok Users Generate Value Off-Platform:
- Globally, TikTok users spend significantly more money across music-related categories than the average music listener.
- In the UK, TikTok users spend 49% more on music purchases than average listeners.
- In the US, 38% of TikTok users attended a live music event, and 45% purchased artist merchandise in the past 12 months, surpassing overall music listeners.
4. TikTok Connects Local Artists with Global Audiences:
- Globally, TikTok’s audience exhibits a unique preference for international music, exceeding that of the average listener.
- In the UK, TikTok users are 77% more likely to seek access to global music artists than average music listeners.
- In the US, 46% of TikTok users listen to non-English music, 27% more likely than overall music listeners, with a 33% higher likelihood to consider global music access as ‘extremely important.’
Ole Obermann, a representative from TikTok, emphasizes the platform’s role as a driving force in music discovery, citing Luminate’s findings as proof of TikTok’s substantial impact on the music industry. Nick Lanzafame, VP and Head of Research at Luminate, highlights the collaboration’s value, showcasing TikTok’s impact on a global scale through comprehensive data sources.
TikTok’s Music Impact Report is a testament to the platform’s unparalleled influence on music discovery, user engagement, and industry revenues. With users actively participating in music-related activities and embracing diverse global sounds, TikTok continues to reshape the music landscape, solidifying its position as a vital player in the entertainment ecosystem.
For the full report, click here.
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Fharnell M.
