I understand the reasoning, but time spent is not really a great measurement of value. I probably spent hundreds of hours on a couple of games back in middle/high school and I'd be lying if I said I didn't regret at least some of that.
And that music streaming service probably comes close to maxing out the entertainment most people can get from purchasing music, so for most people, music isn't really competing against games in their entertainment budget.
There is a large population of concert goers, and large market for music merchandise and musical instruments.
I'd be surprised is music streaming services comprise 50% of the total music market, although they might be more than 50% of all recorded music.
If we're talking about concerts though, you're talking about a higher cost per hour than movies. Not comparable to $120 for hundreds of hours.
>market for music merchandise
I'm going to avoid merch because games have merch too, so it doesn't really seem worth comparing.
>and musical instruments
Musical instruments, for people who are interested, probably do provide a higher entertainment value per dollar than games, but they are definitely a much smaller niche market.
If you include hardware costs I've spent tens of thousands of dollars on video games. The number of games I've spent more than 200 hours playing is in the single digits.