LYRICAL IMPORTANCE IN THE STREAMING AGE

In a recent consumer report from MIDiA research group focused on the demand for lyrics in the streaming age, findings suggested the future of DSP success will lie with services providing song lyrics within the platform, as opposed to requiring users to seek lyrics from a third party.

88% of DSP subscribers seek out lyrics, but only a minority of them use the lyric features provided by streaming services. For example, Spotify has recently come out with a Behind the Lyrics feature on the mobile app in partnership with Genius which gives partial lyrics on certain songs. However, the only way to see just lyrics on all songs is to use the third party app SoundHound.

With that in mind, 55% of those surveyed said they would pay for a streaming subscription with "great lyrics features," which could make all the difference in converting the 43% of consumers using just the free tier to paid DSP subscriptions.