How Spotify is shaping our tastes and purchases2 min read 23 Jun 2018, 08:36 AM IST
Online music streaming apps such as Spotify heavily influence which songs and artists capture our imagination today
New Delhi: Music streaming platforms have an extraordinary influence on the music choices of consumers, determining which songs and artists tend to be more successful than others, shows a new National Bureau of Economic Research (NBER) working paper by Luis Aguiar of the European Commission’s Joint Research Centre and Joel Waldfogel of the University of Minnesota. Analyzing data for 2016 and 2017 from Spotify—one of the world’s largest music streaming firms—the authors show that being placed on the day’s top songs list (Today’s Top Hits) led to 20 million additional streams, which translates to $116,000 and $163,000 in additional revenue, respectively, from Spotify alone. Playlists also affect the success of new songs and new artists, the study shows. Getting on the top of the New Music Friday playlist in the US is worth roughly 14 million streams ($84,000-$117,000). The major global lists tend to promote major-label and US-origin music, while the New Music Friday lists provide heavier coverage of independent and domestic music, the authors found.