Consulting firm Deloitte released a study which assesses and predicts how the Millennial generation, deeply immersed in digital lifestyles, consumes media. Deloitte discovered that music consumption ranks second behind Pay-TV, ahead of computer games, movies, and other categories.
Drilling into the specifics of music consumption, Deloitte’s survey found that its young respondents will spend $125 each on music. Aha, you might think, that is almost exactly one year of a $10/month music subscription. True, but not pertinent, as Deloitte notes that concert tickets takes up four-fifths of that expense ($100), leaving a precious $25/year for files and streaming. That’s an average, of course, and Deloitte also estimates that 40% of Spotify’s Premium subscribers are in the 18-24 demo.