TIKTOK REPORT: APP FUELS DISCOVERY, STREAMS AND GROWTH

TikTok has released its 2023 Music Impact Report, which focuses on the app's influence on music discovery, music streaming, global music listening and off-platform growth and engagement.

Conducted by Luminate, the analysis reviewed TikTok consumption data, audience insights and audience-engagement data.

Said Global Head of Music Business Development Ole Obermann: "TikTok is already famous for being the launchpad of viral hits and breaking new artists, but we wanted to understand how it and its users impact the music industry more broadly. Luminate's findings prove what we had long known—TikTok is the driving force behind music discovery in the industry, and TikTok users are active, engaged and highly valuable drivers of music-industry revenues."

The complete, 20-page report appears here. Following are some key takeaways.

TikTok Fuels Music Discovery

• Globally, TikTok users are significantly more likely to discover and share new music content on social or short-form video (SFV) platforms than the average user of social or SFV platforms.
• In the U.S., TikTok users are twice as likely to discover music on SFV platforms than the average user of SFV or social media platforms.

TikTok Users Generate Value Through Streaming

• Globally, TikTok users are significantly more likely to use a paid music streaming service than the average consumer.
• In the U.S., 62% of TikTok users pay for a music streaming service, compared to 43% of consumers overall.
• Globally, engagement with an artist's music on TikTok is strongly correlated with streaming volumes.

TikTok Users Generate Value Off-Platform

• Globally, TikTok users spend significantly more money across music-related categories compared to the average music listener across all markets analyzed.
• In the U.K., TikTok users spend 49% more on music purchases compared to average listeners.
• In the U.S., 38% of TikTok users attended a live music event and 45% purchased artist merchandise in the past 12 months, compared to 33% and 35% of overall music listeners, respectively.

TikTok Connects Local Artists with Global Audiences

• Globally, TikTok's audience exhibits a unique preference for international music, far exceeding that of the average listener across all markets analyzed.
• In the U.K., TikTok users are 77% more likely to want access to global music artists compared to average music listeners.
• In the U.S., nearly half (46%) of TikTok users listen to music that is not in English, which is 27% more likely than music listeners overall. This audience is also 33% more likely to consider having access to global music "extremely important."