Last week, the rumors over Twitter #Music panned out, as the company finally had its coming out party for the Web and iOS. Twitter called it a tangible grid of trending artists, so naturally, we wanted to see what kind of trends it would yield.

The first 24 hours saw a total of 256,226 #NowPlaying tweets. Simply Measured, which took a close look at the services that the new service supports, pegged Spotify as the most popular music source during that time. The Swedish startup’s tweets totaled 11,984, followed by iTunes, with 11,612, and Rdio, at 3,457.

The tweets, which included music links, is a new way for the entertainment industry to take a real-time pulse of what consumers are enjoying during any given period. This level of detail is new and could bring in quite a revenue stream for the micro-blogging service. In fact, it wouldn’t surprise us to see this tie into Twitter’s new advertising approach, which delivers ads based on the content of users’ tweets.

Have you tried out Twitter #Music yet? If not, you can see what TechnoBuffalo had to say about it here. If you have, be sure to let us know your impressions in the comments below.