It's certainly how it works for some people, yes. Though I'd be inclined to extend that to around 25 on the top end.

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But that's not all people. I've managed to find new artists to listen to well into my 40's, although I will admit that a lot of the newer artists tend to be heavily influenced by older styles (mainly 70's) I haven't heard a Top 20 song I liked since the late 90's.