Gift cards are a popular way to give and receive gifts, but what do the numbers tell us about their usage on music streaming platforms like Spotify?
Sources of Funding
According to a recent study by ChillHype, Spotify gift cards are funded primarily through individual sales (71.4%), with 21.1% coming from Spotify's own in-store promotions and 7.5% from third-party partners.
Gift Card Purchases
In 2020, the average person spent around $20 on Spotify gift cards, with a significant increase of 15% in purchases between Q2 and Q4 (Source: https://chillhype.com/news/statistics-shared-on-spotify-gift-cards/0321616/>