15-to-19 year olds have embraced on-demand streaming as their format of choice, accounting for 51% of their total listening time on a typical day. That's more than double the overall average of 24%, which includes all age groups, according to the new study “Music & Millennials,” by the Music Business Association (Music Biz) and data partner LOOP (Lots of Online People)
These increases come at the expense AM/FM radio. While broadcast radio still accounts for the highest listening share among the general population at 35%, 15-to-19 year olds reported that they spend only 12% of their time with the format despite a weekly reach of 65% (on par with the overall average of 78%). "This indicates that even though millennials are being exposed to radio, they are not engaging with it, and on-demand streaming is making up the difference.," according to the report.
This is further reflected in millennials’ device usage. AM/FM radio receivers again topped the overall tally, accounting for 33% of the general population’s listening time. However, 15-to-19 year olds bucked the trend again, saying the device only accounts for 11% of their time. Instead, they rely heavily on smartphones, which accounted for 41% of their listening time, more than double the overall average of 18%.
YouTube Beats Radio For Music Discovery For First Time
The report also shows that, for the first time, YouTube has overtaken broadcast radio for music discovery among the general population. When asked how they typically discover new music, 34% of all respondents cited YouTube, while only 32% cited AM/FM radio. This was even more prevalent among 15-to-19 year olds, 56% of whom cited YouTube and 23% of whom cited AM/FM radio. However, recommendations from friends remain the #1 source for music discovery, cited by 46% of the general population. Among 15-to-19 year olds, it is neck and neck with YouTube at 56%.
“We are thrilled to offer our members this uniquely insightful report, which provides a roadmap for the future of the music business through the eyes of the millennial generation,” said James Donio, President of Music Biz. “The quicker the music business can adapt to new trends, the more successful it will be. By examining how young music consumers access the songs they love, we can begin to understand the market trends of the future and get a head start on optimizing the system for the new generation.”
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