Recent months have seen big announcements from Spotify and Apple Music on the number of listeners who are engaging with their streaming platforms. And as today’s Chart confirms, it’s now a majority of online adults who are using at least one such service on a monthly basis.
As yet, though, it’s still only a small minority who are paying for access. Globally, 63% are listening to music streaming services each month but only 1 in 10 digital consumers say they are paying for the privilege. Users in APAC and North America are the most likely to be parting with their cash but, even in these regions, the numbers remain modest.
Figures like these are not necessarily bad news for streaming services – some can gather decent revenue through ad-supported access – but dependable income from monthly subscriptions remains the target to chase. So, that 16-24s are the most likely to be paying is certainly an encouraging sign.