Dive Brief:
- Nielsen research commissioned by Instagram found that its users are 42% more likely to spend money on music, and that it is the most-used social media platform for music fans, live-event attendees and artists during those events.
- Further, Instagram users who follow bands spend twice as much on music yearly than users of other social media platforms, and spend 30% more time listening to music weekly.
- The research found that when using social media at live events, 83% of fans reported using Instagram.
Dive Insight:
For marketers, the news could help them better understand where music fans are and what they're actually interested in. This kind of data could then allow brand marketers to craft relationships with the artists their target audiences are listening to.
"It's important that advertisers form relationships with musicians who are the right fit for their brands," analyst David Deal told Adweek.
Further, with more specific listener information, advertisers can better target the ads they serve on Instagram around user music preferences.
However, even though this survey shows an opening for marketers looking for a music-loving audience, separate recent research from Quintly indicated that Instagram users are also not pleased with increased ads within the app. Quintly's results found 60% of Instagram users were unhappy with more ads in their streams. Maybe even more worrying for marketers is Instagram's interaction rate dropped 40% last year, per Quintly data, indicating that Instagram users are not as engaged with the platform as they once were.