The Music Industry's Most Spent Money on Digital Gifts

According to recent statistics shared on Spotify gift cards, the music industry has been spending a significant amount of money on digital gifts. A report by Walk The Biz reveals that in 2022, the average consumer spent $12.47 on digital gifts, with 44% of those gifts being music-related.

Music Industry Revenue from Digital Gifts

Spotify gift cards have become a popular way for artists and labels to promote their work and encourage fans to share it with others. According to the report, in 2022, Spotify revenue generated an estimated $10.3 billion from digital gifts alone.

Artist Revenue Share of Digital Gifts

The statistics also highlight that artists are not the only ones benefiting from this trend. According to the report, in 2022, artists received an estimated 62% share of the revenue generated by digital gifts, while labels and publishers made up the remaining 38%.