Buzzangle has released a groundbreaking midyear report announcing that, for the first time ever, audio streaming platform usage with services like Apple Music, Tidal and Spotify have surpassed digital video streaming platform usage from platforms like Youtube and VEVO. The report discusses that overall, the U.S. consumption of music has continued to grow throughout the first half of 2016; though sales of most formats have declined, audio streaming has more than doubled – up by 108% – and total industry consumption has grown by 6.5%. Streaming on video platforms only increased by 23%.
In the first half of 2016, there were a total of 209.4 billion on-demand streams, both audio and video – a massive growth of 58.3% from the 132.3 billion stream in the first half of 2015. Audio consisted of 55% of the total streaming consumption, whereas video only made up 45%. With these new statistics, it is the first time ever that audio streaming has surpassed video streaming.
You can see the full report here.
