Digital Music Streaming Dropped Due to COVID-19 and Lockdowns, Says Research

Baltimore, February 15: Music is an inseparable a part of everybody's lives. It is commonly the one manner we will get by way of a boring or miserable day and has the ability to set our temper for something. However, current analysis revealed that music streaming companies had been hit onerous by the COVID-19 pandemic. The research was printed within the INFORMS journal, 'Marketing Science'. The analysis discovered that the drop in peoples' mobility through the pandemic considerably diminished the consumption of audio music streaming. Instead, individuals turned more to video platforms. "On average, audio music consumption decreased by more than 12% after the World Health Organization (WHO) pandemic declaration on March 11, 2020. As a result, during the pandemic, Spotify lost $838 million of revenue in the first three quarters of 2020," stated Jaeung Sim of Korea Advanced Institute of Science and Technology (KAIST). "Our results show that human mobility plays a much larger role in the audio consumption of music than previously thought." Researchers Find No Evidence of COVID-19 Virus Transmission Through Breastfeeding. The research, 'Virus Shook the Streaming Star: Estimating the COVID-19 Impact on Music Consumption,' performed by Sim alongside Daegon Cho additionally of KAIST, Youngdeok Hwang of City University of New York and Rahul Telang of Carnegie Mellon University (CMU), checked out online music streaming knowledge for high songs for 2 years in 60 nations, in addition to COVID-19 case and lockdown statistics and every day mobility knowledge, to decide the character of the modifications. "Despite the common expectation that the pandemic would universally benefit online media platforms, we found that it adversely impacted music streaming services," stated Telang of Heinz College at CMU. "Our findings imply that the substantially changing media consumption environment can put streaming music in a fiercer competition against other media forms that offer more dynamic and vivid experiences to consumers." The researchers discovered that music consumption by way of video platforms was positively related to the severity of COVID-19, lockdown insurance policies and time spent at dwelling. (This is an unedited and auto-generated story from Syndicated News feed, SociallyKeeda Staff might not have modified or edited the content material physique)