December 11th, 2024

Music streams top 1 trillion at the fastest pace yet, reflecting more global industry, report finds

By Maria Sherman, The Associated Press on July 12, 2023.

FILE - Bad Bunny speaks at the Sony Pictures Entertainment presentation at CinemaCon 2022 in Las Vegas on April 25, 2022. The global music industry surpassed one trillion streams in a calendar year, Luminate's 2023 Midyear Report has found. Global streams are also up 30.8 percent from last year, reflective of an increasingly international music marketplace. (AP Photo/Chris Pizzello, File)

LOS ANGELES (AP) – Is non-English language music the future of the music business? Perhaps.

The global music industry surpassed 1 trillion streams at the fastest pace, ever, in a calendar year, Luminate’s 2023 Midyear Report has found. The number was reached in three months, a full month faster than 2022.

Global streams are also up 30.8% from last year, reflective of an increasingly international music marketplace.

Additionally, Luminate found that two in five – or 40% – of U.S. music listeners enjoy music in a non-English language. And a whopping 69% of U.S. music listeners enjoy music from artists originating outside of the U.S.

According to the report, Spanish, French, Japanese, Korean, Italian, German, and Arabic are the most popular languages for non-Anglophonic music among U.S. music listeners, with Latin genres and K-pop leading the charge.

“Specifically, 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, Luminate’s senior director of music insights and industry relations.

“Furthermore, 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.

That is reflected in Luminate’s 2023 Midyear Top Albums chart, where Bad Bunny ‘s spring 2022 album “Un Verano Sin Ti” still breaks the top 10 a year later (the chart factors in a combination of album sales, on-demand audio/visual sales, and digital track sales). When “top albums” are defined by physical and digital sales exclusively, K-pop dominates, taking up 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 U.S. music listener in the next 12 months. One in four K-pop fans has purchased a cassette in the last 12 months.

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