Statistics on Gift Cards on Spotify
Gifting digital music and playlists has become increasingly popular, with over 50 million users in the United States alone. According to a recent survey by Trendy Reporter, 71% of millennials have purchased gift cards for music streaming services like Spotify.
- Spotify's gift card sales rose by 25% in Q4 2022 compared to the same period last year.
- The average value of a Spotify gift card sold online is around $10-$15, with some cards selling for up to $50 or more.
Market Trends and Insights
The rise of digital gifting has not only increased the number of gift cards sold online but also created new opportunities for businesses. For instance, music streaming services like Spotify are seeing a surge in sales of premium subscriptions, leading to increased revenue.
A recent report by Deloitte found that 75% of consumers consider gifting digital products as an acceptable alternative to physical gifts.