US millennial snapshot A looming generational blind spot
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In the US, are the music industry’s most valuable segment. Yet their relationship with streaming is tenuous. Streaming is not meeting these consumers’ need for a more social, less algorithm-driven experience. What is more, they appear most likely to give their subscriptions up. Their behaviour contrasts with that of who spend nearly twice as much time streaming, but are less likely to listen to playlists and full albums, and also slightly less likely to want a more social streaming experience. These insights give record labels perspective on what audiences are being attracted by each streaming service. Streaming services can either repair their relationship with focus on building for the next generation, or attempt at both.
Companies and brands mentioned in this report: Amazon Fire, Amazon Prime, Amazon Prime Music, Apple Music, Apple Music Apple One, Apple TV+, Beats One, Beyonce, ByteDance, Deezer, Jay-Z, SoundCloud, Spotify, TIDAL, TikTok, Verizon, YouTube, and YouTube Music
Methodology statement: For the purposes of this report, the term ‘millennials’ is used primarily to focus on our age bracket, with a particular view through the lens of ‘young millennials’, as the age bracket ecompasses the ‘older millennial’ segment and some of Gen X. Likewise, Gen Z is represented by our age bracket, which is also split into younger and older (20-24-years-old) brackets. We are also mindful that these age brackets do not map perfectly to typical generational age markers, but the age bands are consistent with previous MIDiA reports.