The report Culture Next showed that about 84 percent millennials see audio as a mental health resource, while 79 percent Gen Z believe audio to be a source of healing.
Podcasts on mental health witnessed the most impressive growth an increase of over 600 per cent among millennials and more than 900 per cent among Gen Z.
Nearly 80 per cent of Gen Z feel "more centered and generally happier" when listening to their favourite music on a daily basis
Both millennials and Gen Z (48 per cent) also trust podcasts more than the traditional media sources, including TV news, newspapers and radio.
Further, the Gen Z listeners on Spotify in India expect brands to represent and empower them through their campaigns, talent partnerships and active role in social justice movements.
Meanwhile, 68 per cent of millennials said they like audio advertising because it lets them use their imagination to picture everything in their head.
"For both generations, audio is the most immersive form of media and there's great opportunity for brands to create communities and campaigns based on common interests and passion of their target audience on our platform. These are just a few of the insights that give brands the context to think about how they can work with us," Arjun Kolady, Head of Sales - India, Spotify, said in a statement.
Globally, 70 per cent millennials and 62 per cent Gen Z believe that streaming platforms at large, including audio, have significantly shaped how they discover and connect with the broader culture.
About 55 per cent of millennials and 47 per cent of Gen Z believe that they have become part of a global community because of music or podcasts. A majority of them also believe that brands have the power to create communities based on common interest and passion.
For the report, Spotify conducted a combination of qualitative, quantitative and first-party data analysis, looking at Gen Z (aged between 15-25 years) and millennials (aged between 26 and 40 years) in April 2021.
The survey was undertaken in 18 markets, among 9,000 millennial and Gen Z respondents (500 per market): United States, Canada, Mexico, Brazil, Spain, Italy, France, Germany, UK, India, Indonesia, Singapore, Philippines, Japan, Australia, UAE, Thailand and Malaysia.