Stuart WoodThe audience for music livestreams is now bigger than that of podcasts, according to a series of reports by music industry analysts MusicWatch.
The new studies put the audience for music live streams at over 110 million people aged 13+ in the US alone. That accounts for 12% of weekly time spent listening to music in Q2 2020, exceeded only by streaming services at 27% and radio at 15%.
The surveys examined formats that were being watched and on which platforms, as well as time spent viewing. They also asked a series of questions around discovery, type of performance preferred and monetization opportunities.
Less than one third of live stream viewers said they would be willing to pay for live streams. Most of the performances watched were presented by artists that viewers would have wanted to see in person.
MusicWatch Managing Partner Russ Crupnick commented: “Nearly 3 of 4 rated the live stream experience as excellent or very good, but half of viewers also agreed that they aren’t an adequate replacement for being in person at a live performance.
“It’s difficult to say whether the live stream phenomenon will last post-pandemic, but the majority of live streamers report that they’ll keep watching. The good news is that frequent attendees to in-person shows and frequent live streamers are expecting to keep watching when live events resume”.
Graph image is credited to MusicWatch