In 2023, the global music industry achieved a new milestone, surpassing 7 trillion Total On-Demand audio and video streams for the first time, representing a 33.7% gain over 2022. Global audio streams jumped more than 22% to over 4T and in the US audio streaming grew 12.7% to a new high of 1.25T. These numbers all represent streaming volume acceleration, but within these data points are also stories and trends that provide a clear view of where the industry is now and where it’s headed.
At Luminate our mission is to serve as the authoritative and most trusted source for entertainment data and, with the objectivity and transparency you’ve come to expect from us, we are pleased to present our 2023 Year-End Music Report tomorrow. In this report, you’ll find an in-depth look at consumption trends and consumer research insights in addition to year-end charts from our partners at Billboard. See below for a sneak peek.
Music industry data from 2023 is packed full of “Did you know?” facts. For instance, Taylor Swift herself made up 1.79% of the US market*, and the streaming volume share of women within the US Top 500 most-streamed artists grew +4.2 percentage share points over last year as artists like Miley Cyrus and SZA reached new heights. Globally, 436k tracks (ISRCs) were streamed 1m or more times in 2023, but more than 45m didn’t receive a single stream. However, this is all only part of the story.
Combined with Luminate Insights’ leading consumer research we are pleased to provide you with both the music data what and why in our 2023 Year-End Music Report.
Please join me, Jaime Marconette, Sr. Director, Music Insights and Industry Relations, and my co-host Haley Jones, Head of Independents tomorrow at 1p ET / 10a PT for a special webinar presentation as we dive deeper into these trends for a discussion on the year in music.
We will also be hosting our first-ever Global Year-End Music Webinar on Thursday, 1/11/24 at 10am CET/6pm JST/KST led by Helena Kosinski, VP, Global. Click here to register.
*Total Albums w/TEA w/SEA On-Demand Audio