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Music Industry: Difference between revisions
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=== <big>Luminate Report</big> === | === <big>Luminate Report</big> === | ||
'''Q4 2023''' | |||
[[File:Screenshot 2024-01-23 121937.png|center|thumb|722x722px|https://luminatedata.com/reports/yearend-music-industry-report/?aliId=eyJpIjoiZ2sxamdKR2xZK3pMSUxlRSIsInQiOiJtT0s1MzFkQmpZMnhtYlZGOVh2emFBPT0ifQ%253D%253D#]] | |||
At the close of 2023’s final reporting week on December 28th there were 1.249T On-Demand Audio streams for the year in the US and 4.115T Globally. These are both new yearly highs and the new net volume of streams tallied 140.5B in the US and 749.9B Globally, which are greater than the net gains in 2022 (120B and 620.5B, respectively). | |||
In 2023, the global music industry achieved a new milestone, surpassing 7 trillion Total On-Demand audio and video streams for the first time, representing a 33.7% gain over 2022. Global audio streams jumped more than 22% to over 4T and in the US audio streaming grew 12.7% to a new high of 1.25T. | |||
[[File:Screenshot 2024-01-23 122834.png|center|thumb|731x731px|https://luminatedata.com/reports/yearend-music-industry-report/?aliId=eyJpIjoiZ2sxamdKR2xZK3pMSUxlRSIsInQiOiJtT0s1MzFkQmpZMnhtYlZGOVh2emFBPT0ifQ%253D%253D#]] | |||
U.S. Average Music Streaming Spend Increased Year-Over-Year | |||
But Gen Z listeners report spending 11% less on Music Streaming Services Per Month | |||
==== Q3 2023 ==== | ==== Q3 2023 ==== | ||
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==== 2022 ==== | ==== 2022 ==== | ||
[[File:Music2.png|center|thumb|896x896px|https://www.goldmansachs.com/insights/pages/gs-research/music-in-the-air/report.pdf]] | [[File:Music2.png|center|thumb|896x896px|https://www.goldmansachs.com/insights/pages/gs-research/music-in-the-air/report.pdf]] | ||
[[File:Goldman Sachs Streaming Penetration International.png|thumb|https://www.goldmansachs.com/intelligence/pages/gs-research/music-in-the-air/report.pdf]] | [[File:Goldman Sachs Streaming Penetration International.png|thumb|https://www.goldmansachs.com/intelligence/pages/gs-research/music-in-the-air/report.pdf|375x375px]] | ||
Raised global music industry revenue forecasts to reflect a more positive view on pricing and revenue from emerging platforms that more than offsets the near-term potential impact of the weaker macro environment.<ref>https://www.goldmansachs.com/insights/pages/gs-research/music-in-the-air/report.pdf</ref> | Raised global music industry revenue forecasts to reflect a more positive view on pricing and revenue from emerging platforms that more than offsets the near-term potential impact of the weaker macro environment.<ref>https://www.goldmansachs.com/insights/pages/gs-research/music-in-the-air/report.pdf</ref> | ||
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[[File:Goldman Sachs Streaming Penetration DM.png|center|thumb|https://www.goldmansachs.com/intelligence/pages/gs-research/music-in-the-air/report.pdf]] | [[File:Goldman Sachs Streaming Penetration DM.png|center|thumb|https://www.goldmansachs.com/intelligence/pages/gs-research/music-in-the-air/report.pdf|350x350px]] | ||
==== 2023 ==== | ==== 2023 ==== | ||