What users really want from music streaming (revealed!)
Image credit: Juja Han
New research shows what music streaming subscribers really look for in their services and the reasons they may be looking elsewhere.
The music streaming landscape is evolving, with listener priorities changing in 2024. A recent study from Luminate reveals a surprising shift: High-fidelity audio is no longer the top priority for paid subscribers.
While audio quality remains a factor, its importance has declined. Only 31% of paid streamers prioritise high-fidelity audio compared to 37% in 2021. This suggests listeners are increasingly placing a premium on value and additional features offered by streaming services.
The graph defines the importance of features for regular streaming subscribers vertically, and then what those who are considering switching service are looking for horizontally. You can see from the graph how the importance for those looking to switch is different for general music streaming subscribers.
Price remains a critical consideration subscribers for all subscribers, but interestingly, its importance index is relatively low. The study suggests that while price is a baseline factor, it doesn’t necessarily drive users to switch platforms.
The highest-ranked priority for listeners looking to switch services in the next 6 months is access to bonus features. This includes livestreaming of performances, exclusive artist content, non-music content (videos, TV, games), artist updates, news, and features.
Those looking to move services in the next six months are seeking extra content more than the average subscriber as:
- +50% value livestreaming events compared to the average subscriber
- +49% value additional content outside of music
- +48% prioritise exclusive artist content
The study also reveals some interesting genre-based preferences:
- Latin Music Fans: 38% more likely to prioritise additional non-music content like videos, TV, and games.
- Electronic/Dance Music Fans: 40% more likely to consider access to global music and artists a key feature.
- Hip-Hop Fans: 22% more likely to value exclusive artist content.
The Luminate report also revealed the astonishing rise of independent music in the streaming era. They found that over 60% of the artists who accumulated between 1-10 million on-demand streams in the US were independent in the first half of the year. What’s more, as listeners move away from ad-supported streaming it’s easier than ever for artists tor reach an album equivalent sale via streams.