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Music Industry: Difference between revisions
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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). | |||
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).<ref>https://luminatedata.com/reports/yearend-music-industry-report/?aliId=eyJpIjoiZ2sxamdKR2xZK3pMSUxlRSIsInQiOiJtT0s1MzFkQmpZMnhtYlZGOVh2emFBPT0ifQ%253D%253D#</ref> | |||
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. | 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. | ||
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But Gen Z listeners report spending 11% less on Music Streaming Services Per Month | But Gen Z listeners report spending 11% less on Music Streaming Services Per Month | ||
[[File:Screenshot 2024-01-23 123538.png|center|thumb|732x732px|https://luminatedata.com/reports/yearend-music-industry-report/?aliId=eyJpIjoiZ2sxamdKR2xZK3pMSUxlRSIsInQiOiJtT0s1MzFkQmpZMnhtYlZGOVh2emFBPT0ifQ%253D%253D#]] | |||
==== Q3 2023 ==== | ==== Q3 2023 ==== | ||