In this article I have compiled some interesting facts about the music market: the amount of songs on streaming platforms, information about consumption habits, and more
How many songs are uploaded to Spotify every day?
According to data from the Spotify, about 60,000 songs are uploaded to the platform every day. Daniel Ek, founder and CEO of Spotify, believes that by the year 2025, about 375,000 songs will be uploaded to the platform every day and the number of artists on it will increase to about 50 million (growth of about 625%).
How many artists currently use the platform and how are the royalties divided between them?
Spotify has about 8 million artists, 57,000 are responsible for 90% of all streams.
Did you know? Out of all the artists on Spotify - only 800 artists earn 20% of the total royalties received by the company.
How long do people listen to music each year?
According to a study by statista (2021) the average person listens to music about 961 hours every year, which is about 18.4 hours every week.
How many people listen to music every day?
About 82% of teenagers listen to music every day and about 66% of people aged 18-34 listen to music every day. This figure reflects the correlation found in the study, where as the age of the listener increases, the amount of time he will listen to music each day will decrease.
What time do people listen to music?
Most people listen to music between 4:00 PM and 8:00 PM
Where do most people listen to music?
Most people listen to music at home or in the car
How do people listen to music?
According to a study by IFPI 50% of listening to music goes through a streaming service:
Video streaming (YouTube for example): 22%
Paid streaming platforms (like Spotify): 23%
Radio: 16%
Short videos (like Tiktok): 11%
Streaming platforms in free version: 9%
Purchased copy (CDs, records, songs downloaded for a fee): 9%
Social media: 3%
Live: 2%
Other (TV, movies, etc.): 5%
Did you know? there are more than 90 million songs in Apple's music library. The average length of a song is 3.5 minutes & it would take more than 600 years to listen to all the songs in the world.
What devices do people play music on?
Radio: 29%
Smartphone: 27%
Computer: 19%
Smart speaker (like Alexa): 3%
Bluetooth speaker: 4%
Additional mobile devices: 4%
Other: 6%
Dedicated system/turntable: 8%
How many people use headphones to listen to music?
About a third of US residents use headphones every day, 87% of them use headphones to listen to music.
*the study about devices and headphones was published in 2019. According to the rising market shares of headphones and smart devices, it is likely that the numbers are even higher today.