It’s hard to believe that with the MP3 creeping up on its 20th birthday, that the state of the digital music market is still in flux. And with a brand new streaming service player in the mix as of March, the situation continues to crescendo.
Guest Post from Unified Blog
In fact, subscription services are now the crux of digital music, accounting for 23% of the industry according to a recent IFPI study. As many marketers continue their attempts to figure out what music lovers will actually pay for, we have a hunch that the companies that are connected via social media will be ahead of the curve. So in this spirit, we looked at the Facebook and Twitter accounts from five of the most popular services, to see if they were getting fans to sing along on social. Here’s what we found.
The Social Totals
When it came down to getting users in tune with their content the most, iHeartRadio was clearly the frontman, generating just shy of a million engagements last month for a 67.8% market share. Spotify was also a fan favorite, generating 236.5K likes, shares, comments, retweets and favorites.
While the volume of engagements is a very important part of setting the right stage for social interactions, how active the audience is equally as critical. Imagine being at a massive concert, but only a tiny section was actually getting into the groove of the music and applauding. Needless to say, no bueno for the artist. Well the same is true for social engagement. When we looked at the amount of engagement relative to audience size, it was actually TIDAL that had the biggest cheering section with an impressive 1,049.7 engagements per 1K users. iHeartRadio also had a strong performance in this area as well, taking the second spot with 430.2 engagements per 1K users.