Why Music Streaming Platforms are Becoming Popular Among Gen Z
Music streaming services have gained popularity in recent years, and they aren’t showing any signs of slowing down. Companies like Spotify, Apple Music, and Pandora are slowly replacing music ownership as the norm, and Gen Z (people born between the late 1990s and the early 2010s) are leading the charge.
“We estimate consumers will spend $6.78 billion via social apps this year – rising to $17.2 billion annually by 2025,” says a 2021 headline stat from Musically. The same headline also estimated consumers to spend 548 billion hours live streaming in top social apps in 2021. Teens and young adults are choosing music streaming platforms over buying CDs or vinyl records and tapes anymore. But why? What is it about streaming that’s special?
5 Major Reasons Why Streaming Platforms Are Becoming Popular
1. They're Affordable- One of the reasons music streaming platforms are becoming popular among Gen Z is because they offer affordable accessibility. For a monthly fee, you can have access to millions of songs and create custom playlists. This is much more affordable than buying individual albums or songs.
2. They're Convenient- You can access your music streaming account from anywhere with an internet connection. This means you can listen to your favorite tunes on your phone, tablet, or computer.
3. They Offer a Wide Selection of Music- With millions of songs available on most music streaming platforms, you're sure to find whatever you're in the mood to listen to.
4. You Can Create Custom Playlists- On many music streaming platforms, you can create custom playlists of your favorite songs. You can even make different lists for different occasions, like a party playlist and a workout playlist.
5. Control Over What we Listen to- We can control what we listen to on these platforms. For example, if we want to hear a specific song, we can search for it and play it immediately. We can also create custom playlists full of our favorite songs. This is in contrast to the radio, where we have no control over what is played and often have to listen to songs we don't like.
6. They're Social- One of the best things about many music streaming platforms is that they allow you to connect with other listeners around the world through social media and share what you're listening to. It's great for discovering new artists and getting recommendations from friends!
What Makes Music Streaming Platform Popular Among Gen Z
Straight answer – instant gratification and a sense of community.
The music streaming platforms of today offer instant gratification that is appealing to young people who have grown up in the digital age. When you want to listen to a specific song, you can just search for it and hit play, without having to download anything or wait for it to buffer.
You also have access to a huge library of songs, so you're never bored. And if you're ever feeling generous, you can share your favorite tunes with your friends easily. There's no need to buy physical copies anymore because everything is accessible through these services.
Being Connected and Part of a Community
In a world that is constantly moving and ever-changing, it can be hard to keep up. Technology has made it easier than ever to stay connected with what is happening in the world. From social media to streaming services, there is always something new to discover.
For Gen Z, music streaming platforms are becoming increasingly popular. As mentioned earlier, there are many reasons for this, but the main one is that they offer a way to connect with others who share your taste in music. Whether you are looking for new music to listen to or want to find people to connect with, these platforms provide the perfect solution.
How there’s an Increased Readiness to Pay for Music Subscription
A study reveals that almost half of the American population now pays for music subscriptions of some kind. And in 2021, music and other audio spending increased to $1.95bn. There’s no doubt that music streaming platforms are becoming increasingly popular among Gen Z, but they aren’t the only ones contributing to its growth. About 89% of Baby Boomers (people born between World War II and the mid-1960s) in the U.S. are now active music streamers.
And there are a few reasons for this. For one, there’s the increased convenience of having all your music in one place that you can access from any device. Then there’s the discovery factor – with so much music at your fingertips, it’s easy to find new artists and songs you love. What more could a music lover ask for?
Finally, there’s the price point. Although it may seem like a lot to pay for a music subscription, when you compare it to buying individual albums or songs, it’s actually quite reasonable. Plus, most platforms offer a free trial so you can try it before you buy.
Gen Z Redefining the Music Streaming Business
Due to the peak in millennials' purchasing power, consumer commerce has long prioritized marketing to this young demographic. However, after years of marketing and research, businesses now need to adjust their advertising objectives due to the emergence of a new generation's stake in the modern marketplace – Generation Z
Although millennials were among the first to use social media and apps like Facebook, they are no longer the intended audience for the newest advances in technology, including streaming. To reach Gen Z, who uses apps like Snapchat, Instagram, TikTok and Youtube. Advertisers have shifted their attention to the subsequent generation – Generation Z.
Conclusion
In conclusion, music streaming platforms are becoming popular among Gen Z for a variety of reasons. They offer users a convenient way to listen to their favorite music, discover new artists, and create custom playlists. Additionally, these platforms provide an affordable alternative to purchasing individual songs or albums. With so many benefits, it's no wonder that these services are becoming increasingly popular even for folks that aren’t born into a tech-oriented generation.
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Written by CalypsoRoom Editorial Team
The CalypsoRoom Editorial Team is a skilled and diverse group of writers, researchers, and industry specialists who have access to Calypso's data and information in order to give you broad knowledge about the music industry as well as helpful advice to help you manage your music and dancing career.
Updated January 2023
