Luminate midyear report

Research firm Luminate has published its 2023 mid-year report, with some new stats on the US and global music industry to pore over.

The headline figure is 3.3 trillion. That’s how many on-demand song streams (audio and video) there were globally in the first half of 2023, up 30.8% year-on-year.

Audio-only song streams grew by 22.9% to 2tn, which by our reckoning means video streams grew by nearly double that rate – up 44.4% to 1.3tn.

In the US specifically, Luminate found that on-demand song streams grew by 15% to 713.5bn (again, that’s audio and video streams combined).

The share of overall consumption taken by catalogue music continues to increase in the US too, although only slightly – up from 72.4% in the first half of 2022 to 72.8% a year later.

Luminate’s report also picked up on some other trends, including 20% growth in D2C sales of physical music.

The numbers there were slightly confusing, mind: the report cited total sales of 4.4m units, including 3.6m vinyl records and 1.7m CDs, so we suspect the total should have been 5.4m units.

D2C is also bucking the catalogue-dominance trend: 62.5% of D2C sales are of current releases.

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