Global music streaming reaches 4 trillion times per year

Luminate, an entertainment industry research company, has released a summary report of the music industry in 2023. The number of global streaming views is expected to reach a new record of over 4 trillion in 2023.

Luminate Releases 2023 Year-End Report | Luminate

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According to Luminate, the total number of streaming plays worldwide in 2023 will be 7.1 trillion, an increase of 33.7% from the previous year. Among them, the number of music streaming plays increased by 22.3% from the previous year, reaching the 4 trillion mark.

The number of songs played over 1 million times ( ISRC ) was 436,000, an increase of 16.7% from 373,500 songs the previous year.

In the United States, the number of views has increased by 12.7% from the previous year to 1.2 trillion, which is about one-quarter of the world total. The most streamed artist is Taylor Swift, accounting for 1.79% of the market, meaning that in 2023, 1 in 78 songs streamed in the United States will be by Taylor Swift. On the other hand, although spending on streaming was on the rise in 2023, it was down 11% compared to the previous year among Generation Z.

Furthermore, among the top 10,000 most streamed videos and music in the world, the popularity by language is English, which ranks first at 54.9% of the total. This is followed by Spanish at 10%, Hindi at 7.8%, Korean at 2.4%, and Japanese at 2.1%.

The trend is that the proportion of English content is decreasing, dropping by 3.8 points from 2021 onwards. Over the same period, Spanish has increased by 3.8 points, and Hindi has increased by 4 points.

An analysis of the top 100 songs by genre shows that songs performed well outside of their 'home base.' For example, dance/electronic music is popular in Vietnam, Slovakia, Croatia, Malaysia, and Hungary, and K-POP is popular not only in the Asia-Pacific region but also in Peru, Turkey, Bolivia, Romania, and Ecuador. Additionally, it has been reported that listeners of Afrobeat, country, American hip-hop, rap, and Latin music are increasing worldwide.

It is said that 'super fans' support the market. In the US, 18% of listeners were super fans, who spent 76% more time listening to music per month and spent 126% more on goods than the average listener. In terms of merchandise, the average K-pop fan was twice as likely as other fans to purchase merchandise from music events they didn't attend. In addition, the optimal price for T-shirts as goods is 30.2 dollars (about 4400 yen).