16-24s Most Likely to Pay for Music Streaming
Continuing our series on music streaming engagement, today’s edition shines a light on who is paying for these services.
More than 6 in 10 internet users are streaming music each month, but thanks to the availability of ad-supported tiers, account sharing and free trials, it’s a significant step down when we look at the number who are paying for these services.
Nevertheless, just as younger internet users are the most likely to be engaging with music streaming services, so too are they the most likely to be paying for them. Younger users feel more strongly than their older counterparts about enjoying the process of finding new music, and place a higher value on brands giving access to exclusive content.
As such, creating demonstrable user experience benefits, besides ad-free listening, under premium subscriptions in the form of exclusivity and personalization could be key to converting these younger age groups.