Key Takeaways From IFPI's Engaging With Music Report
Last week, IFPI shared the Engaging with Music Report 2022, which features a collection of data sourced from 44,000 respondents, aged 16-64.
This year's report saw respondents from 22 countries provide insights on how audiences worldwide are engaging with music. Today, we’re sharing the key takeaways from the report.
Time spent listening
As the world has opened back up, 2022 has been a year of twists, turns and adjustments for music lovers worldwide. Interestingly, respondents said they're spending more time listening to music this year compared to 2021. They're now spending an average of 20.1 hours a week listening to music. That's up by 1.7 hours a week from 2021.
To pay or not to pay
So how are people accessing their music? Well, this year, 46% of respondents said they’re using subscription services to get their music fix.
The report revealed that younger listeners are more likely to pay for their subscriptions. 54% of 16-24 year olds and 56% 25-34 year olds are making room for streaming services in their budgets. Only 26% of respondents aged 55-64 said they were paying for theirs.
On the flip side, almost a third of responders confessed to accessing unlicensed music.
Methods of engagement
It's no secret that the methods of music engagement on offer today are more diverse than ever. This year, IFPI found that listeners across the globe use more than six different methods to stay sonically engaged. Video streaming, audio streaming, radio, short form video and social media are the five most popular channels. With 82% of respondents selecting video streaming as an engagement channel, it came out on top.
Among the respondents, 50% said they use short form video apps, and 63% of that group said music is central to the time they spend watching videos on them.
A few years ago, we questioned if music livestreams were here to stay, or if they were simply a supplement for a COVID-induced lack of in-person performances. Looking at this report, it seems livestreams are sticking around, with 32% of IFPI's respondents saying they’d watched a music livestream in the last month.
In that same month, just 12% had purchased a CD, and only 8% had purchased a vinyl record. However, 49% of respondents still said they like owning their music physically.
There’s plenty more data included in the full Engaging with Music Report. You can check it out here.
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Last week, IFPI shared the Engaging with Music Report 2022, which features a collection of data sourced from 44,000 respondents, aged 16-64.