Happy Holidays and welcome to Luminate’s last Tuesday Takeaway of 2024. We’ve had a blast sharing music’s top data stories with you and appreciate your continued readership. As we close out the year, we’re excited to announce that our 2024 Year-End Music Report focusing on music’s biggest trends will be released on Wednesday, January 15, 2025. Register for the webinar here.
Now, let’s dive into Holiday Music. As we’ve seen in previous years, Holiday Music steadily grows from modest streaming numbers to over 10% of the U.S. On-Demand Audio (ODA) streaming market share during its peak week near Christmas. But how is Holiday Music shaping up in 2024?
There’s been some industry chatter about whether the genre has softened in recent years, as its market share hasn’t reached the same heights it once did. In fact, a closer look at the data since 2020 reveals a gradual decline in peak Holiday Music market share year-over-year. For example:
- In 2020, during the height of the pandemic, Holiday Music reached 14.3% of the market in week 51 (week ending 12/24/20).
- In 2023, peak market share dropped to 13% in week 52 (week ending 12/28/23).
So, what is happening in 2024?
The Thanksgiving Factor
Thanksgiving has a significant influence on Holiday Music streaming trends, as it marks the unofficial kickoff of the season. This year, Thanksgiving fell on November 28, 2024, the latest fourth-Thursday-of-the-month possible. By comparison, last year’s Thanksgiving was on November 23, 2023, giving the 2023 holiday season five more days between Thanksgiving and Christmas.
Why does this matter? The shortened runway in 2024 not only reduces the number of days for Holiday Music to build momentum but also impacts how chart weeks align with the calendar. A closer, day-by-day analysis shows that while streaming trajectories are similar leading up to and following Thanksgiving (with 2024 actually out-pacing 2023 in terms of U.S. ODA share), the total volume is maximized when there are more days between Thanksgiving and Christmas.
What to Watch For
As we move further into December, it will be interesting to see if Holiday Music can catch up to previous years’ trends. Understanding these calendar dynamics will be key for industry watchers assessing whether the genre’s overall appeal is truly softening—or simply adapting to external factors like the length of the holiday season.
We hope you have a wonderful holiday season and can’t wait to see you in 2025!
