If one thing is certain about the global music industry, it’s that it’s always changing. While still commanding the lion’s share of global activity and exhibiting year-over-year growth, the U.S. music streaming market is reaching a more mature state as emerging markets start to grow at a faster rate. This is evidenced by the 17.3% year-over-year audio streaming growth of ex-U.S. territories compared to the U.S. rate of 6.4% when comparing 2024 to 2023. And while streaming remains a dominating force in music consumption – making up 91.3% of equivalent activity in the U.S. – new methods of driving music discovery, reaching audiences wherever they are and monetizing fandom are more critical than ever.
Tomorrow, Luminate’s 2024 Year-End Music Report will be published to spotlight the biggest trends in music. This year’s report dives into U.S. and international music consumption, audience intelligence trends and highlights other insights in the following sections:
- The Next Frontiers in Streaming
- The Global Sound System
- Further Down the Pyramid
- Fans & Brands
- Streams & Screens
- Setting the Stage
From new metrics detailing the Top Music Export Countries in the world to the U.S. Pop domination by female artists, Luminate’s 2024 Year-End Music Report helps provide a snapshot of where the Global music industry is right now and where it could be headed.
RSVP below for the webinar tomorrow, January 15, at 1 p.m. EST / 10 a.m. PST.
