Is The Concept of Listening Becoming Obsolete?
MusicWatch was the first company to measure how we listen to audio. In 2006 we realized that media was moving from a transactional economy (share of wallet) to an attention economy (share of time). That shift came early for music when sales of CDs or downloads were making way for the “sale” of engagement, starting with Pandora and YouTube, and Rhapsody for those who remember.
Twenty years ago music listening was dominated by radio, CDs and digital downloads. If you are a Millennial or GenX’er you might recall buying some CDs and downloads from Sam Goody or Apple. It’s also likely that a friend burned a few CDs for you, or you “borrowed” downloads from Limewire. It’s okay to admit it- the statute of limitations has expired.
MusicWatch just released its most recent edition of our audiocensus music listening reports. We went back ten years, to 2016 to see how things had changed. Truth is we need to go back to the branding table, as the concept of music listening is fast becoming obsolete. Between music videos on YouTube, streamers adding music videos, livestreams, video podcasts and short-form platforms such as TikTok, music has evolved to a visual medium as much as audio. Welcome back to the MTV era!
Here’s what we learned:
- The Strong Stay Strong: Streaming is in the lead and by most measures is the pre-eminent music format. Streaming has the largest audience. Streaming is the format most likely to be listened to every day. Streaming garners the most listening time in an average listening day. Streaming dominates most music listening situations at home and on-the-go, and has even topped radio in the car. You might ask, why isn’t streaming’s share even higher over the past decade? Something unexpected happened during the Covid pandemic…
- Expect the Unexpected: Musical.ly was barely out of diapers in 2016, a niche app appealing to teens, mostly female. The baby grew up during the Covid era, and TikTok along with other short form video platforms such as Reels and Shorts account for 17 percent of music listening time. Time with music on traditional social media such as Facebook or Instagram has doubled since 2016. The time spent on music on social media platforms is not as “sticky” as time spent listening on streaming platforms or YouTube. Listeners appreciate the music discovery aspects of short-form videos, but say music streaming is much more immersive.
- Pots, Pans & Music: Livestreams weren’t invented during the pandemic, but artists got off their tour busses and used video feeds to invite us into their homes and studios. Livestream listening is included in the pie according to how consumers said they accessed the feeds or videos.
- Compliments Continue: In the pre-streaming days fans would hear a song on radio and then buy the CD. Social media and streaming are often complimentary. Our research shows that fans frequently hear a music clip on TikTok and then fire up their favorite streaming service for a deeper listen, a look at the artist’s catalog, or a peek at the song’s lyrics.
- Radio’s Signal Weakens: Twenty years ago radio was the major force in music listening, and the top format for music discovery. Ten years ago streaming and radio were neck and neck for music listener’s attention. Today, radio has fallen to the #4 spot, and increasingly serves an older audience. Radio only garners a 4 percent share among GenZ!
- VInyl, Schmynl!: Reporters can’t stop writing about the rebirth of Vinyl. Yes, Vinyl rebounded from near extinction and each year posts higher sales. Yet Vinyl accounts for only 2 percent of our listening time, a level that has barely budged in a decade. Some record buyers collect and don’t play their Vinyl records. Vinyl fans treasure their solitary relaxation time with records. But even hardcore Vinyl listeners spend twice as much time streaming their music.
Music’s magic is its diversity. There is a format, a device, a favorite time to listen that suits just about everyone. SiriusXM satellite radio is quite popular in the car among an older demographic. You may not have bought a CD in years, but you could be playing them in your car. More than 40 million Americans still listen to CDs at least one hour per week. Your iPod stopped working years ago, but there’s downloads on your phone or iPad. Perhaps you caught a music performance on PBS. Music documentaries are more available than ever thanks to video streaming platforms such as Apple, Netflix and Disney+. The catalog of music focused podcasts is expansive.
Thanks to legacy and modern music formats we are spending about 20 percent more time engaging with music than a decade ago.
For music fans the music attention economy has never been better.