{"id":100574,"date":"2024-08-01T16:00:00","date_gmt":"2024-08-01T15:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=100574"},"modified":"2024-08-01T15:38:56","modified_gmt":"2024-08-01T14:38:56","slug":"what-will-music-streaming-services-do-next","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/what-will-music-streaming-services-do-next\/","title":{"rendered":"What will music streaming services do next?"},"content":{"rendered":"\n

Image credit: Dushawn Jovic<\/a><\/em><\/p>\n\n\n\n

In the battle for subscriber loyalty, the question is what actually matters to listeners that services can provide?<\/span><\/h2>\n\n\n\n

The music streaming industry is undergoing a seismic shift. As market saturation grows and competition intensifies, platforms are increasingly focused on profitability and subscriber retention. <\/p>\n\n\n\n

Luminate’s 2024 Midyear Music Report <\/a>offers crucial insights into the evolving landscape and the factors influencing consumer behaviour.<\/p>\n\n\n\n

One of the most pressing challenges facing streaming services is subscriber churn. With rising subscription costs and a plethora of options available, consumers are becoming more selective about their spending. <\/p>\n\n\n\n

Luminate’s Music 360 study reveals a notable gender disparity in price sensitivity, with women more likely to cite cost as a reason for potential cancellation. In fact, overall price was the most important consideration amongst paying streamers in the U.S..<\/p>\n\n\n\n

However, what appeals to subscribers considering a switch in the next few months is different. To combat churn and attract new subscribers, platforms must prioritize features that go beyond the basics of a music streaming platform. Content like livestreams and non-musical content are of the most value to those considering a switch.<\/p>\n\n\n\n

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What users really want from music streaming (revealed!)<\/a><\/blockquote>