The latest report from Luminate details how TikTok, YouTube Shorts and Reels are having an impact right across the music industry.
Since the explosion in popularity of TikTok over the past five years, as well as other platforms like Facebook, Instagram and YouTube getting in on the action, short-form videos are increasingly important in the music and entertainment industries. These platforms are giving fans a new way to connect with the artists they love in new ways. New data from music and entertainment data company Luminate highlights how short-form videos are having a positive impact for artists, even outside of the digital sphere, now more than ever.
Luminate published their Midyear Music Report in July and has since been sharing interesting tidbits of interesting data.This report is based on consumer research data.
According to Luminate’s latest blog on short-form video, “the average U.S. consumer spends more time on these platforms than engaging in traditional activities like sports and reading”. TikTok remains the leader among music listeners, however with growing competition from YouTube Shorts, Facebook Reels and Instagram Reels, TikTok could soon be in trouble, as other tools are built in to existing popular platforms.
Luminate details how different audiences engage in different ways on short-form platforms. For example J-Pop and K-Pop fans are 59% more likely to post on short-form video platforms compared to the average US music listener. Likewise, Hip-Hop/Rap and Latin music listeners are 41% more likely to post. These examples show why it’s important for artists and managers to dive into the report for more information and analyse their own statistics.
The last chart shows how short-form viewers spend more money on streaming services and artist merchanise than the average US music streamer. While they also spend less on physical music, short-form fans are 38% more likely to attend live performances or concerts, showing that short-form can drive both digital and experiential revenue streams.
Make the most of short-form platforms, by upload your music to TikTok, Facebook Reels, Instagram Reels and YouTube Short, and start generating revenue across platforms today. When you distribute your music with RouteNote, it’s free and easy!