Social media platforms are altering the music creation landscape, with music features, such as TikTok remixes, inspiring artists to release new versions of their songs, made by fans on the platform.
The demand for interactive and creative music experiences is growing, with 55% of Younger Millennial music/podcast listeners interested in using AI text prompts to create music. AI music tools are set to change the way consumers create and express themselves, turning from passive to active listeners. Streaming platforms can become interactive spaces where users can mix and craft tracks or create remixes, offering a more hands-on experience.
Artists can license their sounds to AI tools, and cater to young listeners’ desire for self-expression. This allows fans without the technical skills to create music in the style of their favourite artists and connect with the online music community.
Transparency about AI involvement in music creation will be vital. 64% of 16-44-year-old music listeners want to know if AI was used in the music they listen to. This highlights the importance of maintaining human creativity and authenticity. Artists and platforms must be transparent about AI usage to build trust and respect for artistic integrity, and label their work as AI-generated on platforms.
This report looks at the following areas:
- Market size and forecast for the music industry in the UK.
- Music and podcast listening habits, including frequency of choosing music based on familiarity or mood.
- Perceptions of AI in music production, and desire for creating music with AI.
- Podcast listening pain points, including experiences discovering/finding podcasts.
- Competitive strategies of brands operating in the music and podcast markets.
Music listeners want AI transparency. The need for clarity reaffirms the desire for human creativity and authenticity in music.
Nikita Shergill, Technology and Media Analyst
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Executive Summary
- Opportunities for the music and podcast market
- License sounds for fans to create AI music with
- Develop teaser preview compilations to alleviate podcast selection fatigue
- Enhance music choices through mood tracking technology
- Market dynamics and outlook
- Streaming continues to dominate
- Graph 1: music industry income by segment, 2024
- Market predictions for music
- Music industry income to see further growth in 2024
- AI misuse can impact the creative pipeline
- What consumers want and why
- Spotify remains the most popular paid streaming music platform
- Graph 2: used a paid-for streaming service when listening to music in the last three months, 2024
- Support the remix culture with editing tools
- Graph 3: frequency of listening to music in the last three months, 2024
- Young listeners want AI transparency in music creation
- Graph 4: attitudes towards music, 2024
- Advertising in podcasts
- Podcasters must turn to video formats
- Graph 5: streaming services used to listen to podcasts in the last three months, 2024
- Younger Millennials want efficient ways to consume information and are willing to pay for it
- Streaming services need to adapt to podcast creator subscriptions
- Graph 6: attitudes towards podcasts, 2024
- Innovation and marketing
- Adobe tool generates music using just text prompts
- Blubrry launch AI podcasting assistant tool
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Market Dynamics
- Market size and performance
- Streaming continues to dominate as the physical market sees growth
- Graph 7: music industry income by segment, 2024
- Major artist releases help drive vinyl revenue in 2023
- Graph 8: CD and LP industry income, 2014-2023
- Market forecast
- Music industry forecasted to be worth £1.6 billion in 2029
- Value of music industry continues to grow
- Spotify raises prices but users are still growing
- Graph 9: used Spotify Premium in the last three months, 2024
- Labels report positive or stable growth in 2024
- Market segmentation
- Streaming outlook has modest growth ahead
- Music revenues will remain largely anchored in streaming
- Physical revenue dependent on high profile releases
- Taylor Swift boosts vinyl market
- The return of vinyl at WHSmith
- Digital downloads will continue to decline
- Digital downloads struggle to compete with streaming services
- Social, environmental and legal factors
- Universal Music Group agrees deal with TikTok
- Human Artistry Campaign establishes seven principles for ethical AI practices…
- …and supports the NO FAKES ACT
- Music listeners are keen to see AI transparency in music
- Petitions against AI companies using creative content to train their models
- Macro-economic factors
- Current financial wellbeing
- Graph 10: the financial wellbeing index, 2016-24
- Consumer confidence for the year ahead
- Graph 11: the financial confidence index, 2016-24
- Calls for fair compensation for artists…
- …may lead to greater transparency and enhanced negotiations
- Graph 12: “I think artists get fair payment from music streaming services”, 2022
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What Consumers Want and Why
- Music listening
- Radio is still the most popular way to listen to music…
- Graph 13: ways listened to music in the last three months, 2024
- …however younger generations are tuning into streaming
- Graph 14: ways listened to music in the last three months, by generation, 2024
- Spotify strengthens its lead as the most popular paid music platform…
- Graph 15: used a paid-for streaming service when listening to music in the last three months, 2024
- … with high usage across age groups
- Graph 16: used a paid-for streaming service in the last three months, by age, 2024
- Music listening habits
- Consumers prefer familiarity in music
- Graph 17: frequency of listening to music, 2024
- Younger listeners embrace global genres
- Younger listeners are more adventurous in their music choices…
- Graph 18: listening to music ‘often’ or ‘sometimes’ in the following category, by age, 2024
- …and are most active in looking for new music
- Graph 19: often actively look for music that I’ve not heard before, by age, 2024
- Limitations of playlist recommendations
- Social media features enhance music discovery
- TikTok remix features may be influencing song releases…
- …and prompt streaming platforms to support users to create their own tracks
- Mood influences music listening choices
- Support users to identify their mood …
- …by integrating mood tracking technologies
- YouTube Music users are often playing music from different cultures
- Graph 20: how often you listen to music from different cultures, by streaming platform used to listen to music, 2024
- Searching for global sounds
- Elevate different cultural music through virtual concerts
- Behaviours towards music
- Younger listeners struggle to discover new music…
- Graph 21: behaviours towards music, 2024
- …as do YouTube Music users
- Graph 22: “I struggle to find new music through playlist recommendations on a streaming service”, by streaming service users, 2024
- Younger generations want AI transparency in music
- Graph 23: “I want to know if the music I am listening to has been created mostly with AI”, by generation, 2024
- Artists and music labels can license their sounds for AI music creation…
- Graph 24: “I am interested in creating music via AI text prompts (eg using ChatGPT)”, by generation, 2024
- …and help listeners to express themselves
- Fulfil the demand for hybrid events
- Podcast listening
- Free streaming services are the most popular way to listen to podcasts
- Graph 25: ways of listening to podcasts in the last three months, 2024
- Younger age groups are most likely to listen to podcasts
- Graph 26: listened to a podcast in the last three months, by age, 2024
- YouTube is the preferred platform to listen to podcasts
- Graph 27: streaming services used to listen to podcasts in the last three months, 2024
- Podcasters must embrace video formats
- Paid streaming service users prefer Spotify for podcast listening
- Graph 28: listen to a podcast on a paid-for streaming service, by streaming services used to listen to podcasts in the last three months, 2024
- Podcast listening pain points
- Podcast listeners are overwhelmed by choice
- Graph 29: pain points to listening to podcasts, 2024
- Create sneak-peak preview compilations to overcome choice fatigue
- Move away from exclusivity to expand reach
- YouTube Music users are most frustrated with not being able to connect with other listeners
- Graph 30: difficulty connecting with other fans of a podcast, by streaming platform used to listen to podcasts, 2024
- Attitudes towards podcasts
- Majority of listeners are happy for ads to be included in podcasts on paid-for streaming services
- Graph 31: attitude towards podcasts, 2024
- Win over ad-annoyed listeners with transparency or early access
- Consumers favour a personal touch over pre-recorded adverts
- Podcasters turn to creator subscription apps…
- …as fans show willingness to pay
- Engage with followers to enhance credibility
- Younger listeners are most likely to purchase products advertised on a podcast
- Make space for adverts targeting older podcast listeners
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Innovation And Marketing Trends
- Competitive strategies
- SoundCloud store helps diversify artists income stream
- Amazon Music launches City Sessions across Europe
- Spotify offers exclusive ticket access to top fans of Sabrina Carpenter
- Apple helps listeners get closer to the music they love
- Spotify scales back its podcast exclusivity strategy
- The Joe Rogan Experience reaches the top 5 podcast chart on Apple Podcast
- Launch activity and innovation
- Spotify launches a text prompt AI playlist
- Adobe tool can create music with only text prompts
- AR/XR technologies are shaping the future of live concerts
- Meta brings fans to front-row seats with VR concert
- Blubrry launch new AI tools for podcasting
- Music festivals make space for podcasters
- Audio Overview creates AI-powered conversations instantly
- YouTube addresses volume fluctuations
- Spotify gives more ways for podcasters and listeners to engage with Comments
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Appendix
- Market forecast data and methodology
- Market forecast and prediction intervals (value) for the music industry
- Market forecast and prediction intervals (value) for music streaming
- Market forecast and prediction intervals (value) for physical sales
- Market forecast and prediction intervals (value) for digital downloads of music
- Forecast methodology
- Report scope and definitions
- Products covered in this report
- Abbreviations and terms
- Consumer research questions
- Consumer research methodology
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