Music Streams for 2023 Hit 1 Trillion in Record Time
The global music industry has reached 1 trillion streams in a calendar year at the fastest pace ever, according to Luminate's 2023 Midyear Report.
The number was reached in just three months, a month faster than in 2022. Globally, total audio and video streams are up 30.8% from last year.
Luminate CEO Rob Jonas explained that 2023's growth is down to more content being uploaded daily, superfans showing greater support for their favorite artists and more engagement with non-English language music in the US.
Luminate found that 40% of US listeners enjoy music in a non-English language. And 69% of US listeners enjoy music from artists from outside of the US.
According to the report, songs in Spanish, Korean, French, Japanese, Italian, German and Arabic are the most popular among US listeners.
"Our streaming data shows that Spanish and Korean language music are the most popular when taking a look at the top 10,000 most streamed songs (audio and video combined) during the first half of 2023," says Jaime Marconette of Luminate.
"Spanish-language music's share of that top 10,000 has grown 3.6% since 2021, while English-language music's share has dropped 4.2% in that same time," he says.
The trend can be seen in Luminate's 2023 Midyear Top Albums list, where Bad Bunny's spring 2022 album Un Verano Sin Ti is still in the top 10 a year after its release. The list is based on a combination of album sales, on-demand audio/visual sales, and digital song sales.
Looking at physical and digital sales only, K-pop albums rule, taking six of the top 10 spots.
"K-pop fans are, unsurprisingly, some of the most enthusiastic fans across physical formats," Marconette says.
Luminate found that K-pop fans are 69% more likely to purchase vinyl and 46% more likely to purchase CDs than the average US listener. One in four K-pop fans has purchased a cassette in the last 12 months.
