The video platform TikTok have paid a research company called Luminate to produce a report about the impact TikTok have had on the music industry. The results are in favour of TikTok.
TikTok has commissioned Luminate to create a report for them. Within this report, it highlights the benefit of TikTok for musicians. Whether it does benefit them, or whether it’s not a platform they should invest time in. The research firm have found that TikTok is really powerful to musicians, and therefore they should focus on getting their music up on the platform.
The results show that TikTok users are more likely to use a streaming service than your typical consumer. They also suggest these users are more likely to spend money on music products, such as merchandise or concert tickets. This is compared to the average music listener. It’s important to know that these statistics are based within the US.
When it comes to streaming store users, 62% of them use TikTok compared to the 43% of them who don’t. Music discovery is far larger on TikTok than it is on YouTube Shorts, Instagram Reels or any other video sharing platform. It’s 70% more likely in the US, 92% in the UK and 96% in Germany according to their statistics.
Apparently, TikTok users have a stronger desire to listen to international music too. This is compared with your typical music listener. The report has faired in TikTok’s favour. It isn’t surprising, as most users would likely agree that TikTok is a brilliant platform for discovering new music and emerging artists, so it can only benefit musicians.
