TikTok is revolutionizing the music industry, according to a recent study commissioned by the popular social media platform. The study, conducted by entertainment analytics firm Luminate, revealed that TikTok users are significantly more engaged with music compared to the average listener, benefiting artists, labels, and streamers.
One of the key findings of the study is that TikTok users are more inclined to attend live music events. In the UK, 45% of TikTok users attended live events, compared to 35% of general music listeners. In the US, the numbers were also impressive, with 38% of TikTok users attending live events compared to 33% overall. This highlights the platform’s ability to drive audience engagement and increase attendance at live music performances.
The study also highlighted the role of TikTok in boosting revenue for music industry stakeholders. The report showed that user engagement on TikTok correlates with increased streaming volumes, leading to higher revenue for artists, labels, and streaming platforms. This is a promising prospect for the music industry, as TikTok continues to grow and expand its user base.
Another interesting finding is that TikTok users are more willing to pay for music-related services. In the US, 62% of TikTok users subscribe to music streaming services, compared to only 43% of general consumers. Additionally, 45% of US TikTok users purchased artist merchandise, surpassing the 35% of general listeners. This data indicates that TikTok users are not just passive consumers of music, but are actively supporting artists by paying for their music and merchandise.
The study’s findings hold promise for TikTok’s expansion into new markets such as Australia, Singapore, and Mexico. As the platform introduces features that facilitate the connection between TikTok-discovered songs and external streaming apps like Spotify and Amazon Music, the potential for increased user engagement and revenue generation is significant.
The timing of the study coincides with TikTok’s preparation for its inaugural global in-person music event, “TikTok in the Mix.” This event will feature headliners such as Cardi B and Charlie Puth, further solidifying TikTok’s role in the music industry and its ability to attract top-tier talent.
Overall, the TikTok-commissioned study by Luminate sheds light on the app’s significant impact on the music industry. By driving user engagement, increasing attendance at live events, and boosting revenue for music industry stakeholders, TikTok is proving to be a game-changer in the music world. As the platform continues to expand and introduce new features, its influence is expected to grow even further, benefitting both artists and music lovers alike.
Photo: DANIEL CONSTANTE on Shutterstock.
