For those who had a holiday yesterday, welcome back from the long weekend! Did you happen to scroll your For You Page or post a short-form video about a new trend? Short-form video platforms have become a dominant force in entertainment. Our Luminate Insights consumer research data now shows that the average U.S. consumer spends more time on these platforms than engaging in traditional activities like sports and reading, making it a crucial platform for reaching audiences – especially in the breakneck-paced entertainment industry.
The short-form video landscape is continuing to evolve as well. Our consumer research data shows TikTok remains the leader among music listeners. However, YouTube Shorts is rapidly gaining ground, signaling a shift in the competitive dynamics of the short-form video ecosystem. This rise of YouTube Shorts, coupled with its integration into the broader YouTube platform, suggests that it could soon rival TikTok in terms of user engagement and influence.
Not all audiences engage with short-form video in the same way, and understanding these differences can help propel marketing efforts. In Luminate’s 2024 Midyear Music Report, we noted how the mechanisms of short-form video allow users to become “part of the show” themselves, and different audiences do engage in different ways. For instance, J-Pop and K-Pop fans are +59% more likely to post on short-form video platforms compared to the average U.S. music listener. Similarly, Hip-Hop/Rap and Latin music listeners are 41% more likely to post. This indicates that artists and marketers targeting these genres should prioritize short-form video content creation to engage their audiences and help enable these fans to champion the artists’ music to their network.
Short-form video users are not only active viewers but also high-value consumers in the greater music market. They spend more on streaming services and artist merchandise than the average U.S. music streamer. And, interestingly, while they spend less on physical music, they are 38% more likely to attend live performances or concerts, which highlights the potential for short-form video platforms to drive both digital and experiential revenue streams for artists and music brands.
