According to Luminate’s 2023 roundup, Taylor Swift emerged as a dominant force in the U.S. streaming landscape, representing a significant 1.79 percent of on-demand streams in a record-breaking year for global streaming. This impressive statistic translates to approximately one in every 78 on-demand streams in the United States. However, amidst Swift’s triumph, the report notes a 10 percent decline in global on-demand streams for English-language music.
Within the U.S., the report highlights Afrobeats, K-pop, and Latin music as the fastest-growing genres, each experiencing growth exceeding 20 percent. The overall volume of audio and video streams worldwide witnessed a remarkable 33 percent increase, surpassing the four trillion mark for the first time.
In terms of regional preferences within the U.S., the report points out the notable expansion of regional Mexican music, showcasing a rapid 60 percent growth primarily fueled by listeners in the West Coast and Southwest regions. Despite this, hip-hop retains its position as the leading streaming genre in the country, although there was a 7 percent decrease in streams categorized as current R&B/hip-hop, while catalog streams observed an 11 percent growth.
Interestingly, the report reveals a contradictory trend in the average spending on music streaming in the U.S., with an overall increase. However, Gen Z listeners reported a surprising 11 percent reduction in monthly spending compared to the previous year. For a detailed analysis, you can access the complete report through Luminate.
