"Fans are continuing to change the tune of how they consume music. It was recently reported that MTV was going to stop broadcasting five channels, including MTV Music, MTV 80s, MTV 90s, Club MTV, and MTV Live in the United Kingdom, and that the channels would go dark the end of this year. (Its flagship channel, MTV HD, will continue to air reality series.)"
"According to Vevo's new Fandom = Cultural Currency report, 44% of fans search for related content on social media. Meanwhile, according to a MIDiA Research Consumer Survey from this year, the top music discovery method for 16-to-24-year-olds is TikTok, followed by YouTube, streaming, and social media. And a joint TikTok and Luminate report that came out earlier this year found that TikTok has been a " key driver " of music discovery, monetization, and chart success."
MTV will stop broadcasting five music channels in the United Kingdom by year-end; MTV HD will continue airing reality series. Local outlets in Australia, Poland, France, and Brazil indicate potential music channel shutdowns in those countries. Paramount Global is undergoing structural change after FCC approval of an $8.4 billion Paramount-Skydance merger and earlier cuts including the 2023 shutdown of MTV News and 25% staff layoffs. Audience behavior is shifting toward social media and streaming for music discovery, reducing demand for traditional broadcast music channels. Industry data show high social searching, TikTok-leading discovery among 16-to-24-year-olds, and TikTok driving monetization and chart success.
Read at Fast Company
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