Statistics Shared On Spotify Gift Cards
Source: https://utaraselatan.com/news/statistics-shared-on-spotify-gift-cards/0321616/
In 2022, Spotify gift cards saw a significant surge in demand, with over 10 million units sold online alone. This increase was attributed to the rise of streaming services and the growing popularity of music consumption.
Demographics of Music Consumers
The majority of music consumers are between the ages of 18-29, with a significant proportion being active on social media platforms like Spotify. According to a survey conducted by Spotify, 71% of users aged 18-24 use their platform to discover new music and 61% of users in this age group also use music streaming services like Apple Music.
Music Consumption Patterns
A study by Deloitte found that the average person consumes around 13 hours of music per week. Spotify reported that users spend an average of 4.9 hours on its platform each month. The most popular genres among Spotify users are pop, hip-hop, and electronic dance music (EDM).
Impact of Music Sales
Despite the rise of digital music streaming services, physical album sales continue to decline. According to a report by the International Federation of the Phonographic Industry (IFPI), album sales in 2020 reached their lowest point since 2007, with total revenues declining by 10% compared to the previous year.
https://utaraselatan.com/news/statistics-shared-on-spotify-gift-cards/0321616/