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Research Finds Digital Music Streaming Consumption Dropped as a Result of Covid-19 and Lockdowns
Decline in human mobility has stunning consequences for content streaming
The Covid-19 pandemic and lockdowns significantly reduced the consumption of audio music streaming in many countries as people turned to video platforms. On average, audio music consumption decreased by 12.5% after the World Health Organization’s (WHO) pandemic declaration in March 2020.
Music streaming services were an unlikely area hit hard by the Covid-19 pandemic. New research in Marketing Science found that the drop in people’s mobility during the pandemic significantly reduced the consumption of audio music streaming. Instead, people turned more to video platforms.
“On average, audio music consumption decreased by more than 12% after the World Health Organization’s (WHO) pandemic declaration on March 11, 2020. As a result, during the pandemic, Spotify lost 838 million dollars of revenue in the first three quarters of 2020,” said Jaeung Sim, a PhD candidate in management engineering at KAIST and one of the authors of the research study on this phenomenon. “Our results showed that human mobility plays a much larger role in the audio consumption of music than previously thought.”
The study, “Frontiers: Virus Shook the Streaming Star: Estimating the Covid-19 Impact on Music Consumption,” conducted by Sim and Professor Daegon Cho of KAIST, Youngdeok Hwang of City University of New York, and Rahul Telang of Carnegie Mellon University, looked at online music streaming data for top songs for two years in 60 countries, as well as Covid-19 cases, lockdown statistics, and daily mobility data, to determine the nature of the changes.
The study showed how the pandemic adversely impacted music streaming services despite the common expectation that the pandemic would universally benefit online medias platforms. This implies that the substantially changing media consumption environment can place streaming music in fiercer competition with other media forms that offer more dynamic and vivid experiences to consumers.
The researchers found that music consumption through video platforms was positively associated with the severity of Covid-19, lockdown policies, and time spent at home.
-PublicationJaeung Sim, Daegon Cho, Youngdeok Hwang, and Rahul Telang,“Frontiers: Virus Shook the Streaming Star: Estimating the Covid-19 Impact on Music Consumption,” November 30 in Marketing Science online (doi.org/10.1287/mksc.2021.1321)
-Profile Professor Daegon ChoGraduate School of Information and Media ManagementCollege of BusinessKAIST
2022.02.15 View 7403 -
Professor Jae-Kyu Lee Elected to Head the Association for Information Systems
Jae Kyu Lee, HHI (Hyundai Heavy Industries, Co., Ltd.) Chair Professor, College of Business at KAIST, was elected to lead the world major academic society, Association for Information Systems (AIS), from July 2015 to June 2016. Professor Lee will be the first Korean to serve the organization as president. From July 2014 to June 2015, he will serve as president-elect.
Currently, Professor Lee is the Director of EEWS (Energy, Environment, Water, and Sustainability) Research Center at KAIST, focusing on research and development in finding solutions to critical issues facing humanity. He also played a pivotal role in the conclusion of a memorandum of understanding between HHI and KAIST in June 2013 to establish HHI-KAIST EEWS Research Center within the KAIST campus.
The AIS is the premier professional association for individuals and organizations who lead the research, teaching, practice, and study of information systems worldwide.
A news article on his appointment:
Asian Scientist, May 16, 2014
Korean Engineer To Lead The Association For Information Systems
http://www.asianscientist.com/academia/korean-engineer-lead-association-information-systems-2014/
2014.05.19 View 9975 -
Professor Jae-Kyu Lee Elected to Head the Association for Information Systems
Jae Kyu Lee, HHI (Hyundai Heavy Industries, Co., Ltd.) Chair Professor, College of Business at KAIST, has been elected to lead the world major academic society, Association for Information Systems (AIS), from July 2015 to June 2016. Professor Lee will be the first Korean to serve the organization as president. From July 2014 to June 2015, he will serve as president-elect.
Currently, Professor Lee is the Director of EEWS (Energy, Environment, Water, and Sustainability) Research Center at KAIST, focusing on research and development in finding solutions to critical issues facing humanity. He also played a pivotal role in the conclusion of a memorandum of understanding between HHI and KAIST in June 2013 to establish HHI-KAIST EEWS Research Center within the KAIST campus.
The AIS is the premier professional association for individuals and organizations who lead the research, teaching, practice, and study of information systems worldwide.
2014.05.14 View 9098 -
Professor Lee Jae Kyu : Appointed Fellow at Association of Information Systems
Professor Lee Jae Kyu of the Graduate School of Information Media Management was made Fellow of the Association of Information Systems.
Professor Less was the Chief Editor of Electronic Commerce Research and Applications, Chairman of Asia Pacific Information System Symposium, and Chairman of Korea Academy of Management Information, in addition to Chairman of the Academy of Korea Intelligence Information System.
The ‘Electronic Commerce’ co-written by Professor Lee is being used as primary MBA textbook in many universities around the world.
Homepage : http://www.business.kaist.ac.kr/faculty/jklee/
2012.01.31 View 8472