Luminate has released its 2023 Year-End Music Report looking at global consumption and trends in music in the past year -2023. This follows their mid-year report that was released in July. The report revealed new insights into the power and influence of super fans and the increase of foreign language music consumed by listeners. The data in that report also shed light on the continued growth of content (ISRCs) added to streaming services each day.
In the end-year report, Luminate continues to explore the continuation of those trends, using data to illustrate how they are defining the state of the music industry. Luminate also shares newer trends that have taken shape since the first half of the year, amplified by new level streaming data for 50 different global markets.
In 2023, global music streaming volumes reached new records as on-demand song streams (audio and video) were 7.1 trillion (up 33.7% year on year) compared to 5.3 trillion in 2022. Global on-demand audio song streams broke the four trillion mark for the first time in 2023, totaling 4.1 trillion streams (up 22.3%) compared to 3.4 trillion in 2022.
A total number of 436 thousand tracks (ISRCs) were streamed 1 million or more times Globally in 2023, up from 373.5 thousand in 2022. 45.6 million tracks or 24.8 percent, received no plays throughout the year. 79.7 million tracks received 0 to 10 streams across all streaming platforms in the year 2023. 45.2 million tracks received between 11 to 100 streams. 33.7 million tracks received between 101 to 1 thousand streams.
23.1 million tracks received between 1001 and 100 thousand streams.1.9 million tracks received 100 thousand to 1 million streams. 380 thousand tracks received between 1 million to 10 million streams. 52.3 thousand tracks received between 10 million to 100 million streams. 4 thousand tracks received 100 million to 1 billion streams last year and only 19 tracks surpassed 1 billion streams in 2023.
There was an average of 103.5K new ISRCs delivered to DSPs each day in 2023, which is up 10.8% from 2022 when there was an average of 93.4K delivered each day.
Soundtracks provide an opportunity to introduce music to new Global markets. The report noted that in 2023 the increasing influence of film, TV, and on-demand platforms like Netflix boosted music discovery and streaming metrics for both current and heritage artists.
Both Gen Z and Millennials who are both more likely to discover new content through movies. Gen Z is 43% more likely to watch animated/cartoon movies than the average consumer. +33% of Millennials who listen to predominantly Black music genres (Afrobeats/Afropop, Gospel, Hip-Hop/Rap, Jazz, R&B, and Reggae) are more likely to choose entertainment content that helps “connect with my culture/identity/values”.
42% of Gen Z females discover new music and artists through movies/movie soundtracks, which makes them 20% more likely than the general population.
The share of English language on-demand audio and video in the Top 10,000 Global Tracks has continued to decline since 2021 (down 11%). The streaming share of English language audio and video remains the most popular globally at 54.9%, but that’s down from 67% in 2021. Spanish language music follows in second place at 10%, with Hindi at 7.8% (up from 3.8% in 2021), Korean at 2.4%, and Japanese at 2.1% (up from 1.5% in 2021).
According to the report, superfans spend 76% more on music per month than the average US music listener. They spend 126% more on artist merch than the average music listener.