According to recent statistics shared on Spotify gift cards, the global music streaming market is expected to reach $43.7 billion by 2025, up from $27.3 billion in 2020.
- In 2022 alone, Spotify saw a growth of 12% in its premium subscriber base, with over 200 million new users signed up for the service.
- The average user spends around 4 hours and 22 minutes per day listening to music on their devices, highlighting the significant impact of music streaming on daily life.
Another key trend observed in the statistics is the increasing popularity of offline listening. In 2022, 44% of Spotify users reported listening to music without an internet connection, up from 34% in 2019.
- In terms of genres, the most popular formats on Spotify are Hip-Hop and Rap (24%), followed by Pop (20%).
- The rise of TikTok has also led to a significant increase in music consumption on the platform, with 70% of users reporting that they use TikTok as an essential part of their daily music routine.