TikTok has released its 2023 Music Impact Report, which focuses on the app's influence on music discovery, music streaming, global music listening and off-platform growth and engagement.
Conducted by Luminate, the analysis reviewed TikTok consumption data, audience insights and audience-engagement data.
Said Global Head of Music Business Development Ole Obermann: "TikTok is already famous for being the launchpad of viral hits and breaking new artists, but we wanted to understand how it and its users impact the music industry more broadly. Luminate's findings prove what we had long known—TikTok is the driving force behind music discovery in the industry, and TikTok users are active, engaged and highly valuable drivers of music-industry revenues."
The complete, 20-page report appears here. Following are some key takeaways.
TikTok Fuels Music Discovery
TikTok Users Generate Value Through Streaming
TikTok Users Generate Value Off-Platform
TikTok Connects Local Artists with Global Audiences
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