Global streaming volumes grew 15.1% in first half of 2024 according to a recent report from Luminate, the entertainment data and insights company that powers Billboard Charts. Growth in US streaming was up 8% on this time last year with growth in all core genres, led by Latin music.
Physical music continued to be popular with key new releases from the likes of Taylor Swift, Beyoncé and Billie Eilish, the first half of 2024 saw an organic evolution in regards to feeding super fans’ appetites with multiple versions of physical products. In fact, the Top 10 best-selling albums of the year so far saw an average of seven different vinyl variants per title.
Digital downloads continued to decline.
Key metrics from the Luminate Midyear Music Report
- Global On-Demand Streaming: Audio
- 2023 1.98 Tn
- 2024 2.29 Tn (+15.1%)
- US On-Demand Streaming: Audio
- 2023 616.5 Bn
- 2024 665.8 Bn (+8.0%)
- US Digital Album Sales
- 2023 9.2 million
- 2024 8.3 million (-10.3%)
- US Physical Album Sales
(includes Vinyl LP, CDs and Cassettes)
-
- 2023 23.8 million
- 2024 24.7 million (+3.8%)
- Canada On-Demand Streaming: Audio
- 2023 63.4 Bn
- 2024 70.7 Bn (+11.4%)
- Canada Physical Album Sales
(includes Vinyl LP, CDs and Cassettes)
-
- 2023 1.55 million
- 2024 1.59 million (+2.1%)
The 2024 Luminate Midyear Music Report is free to download here and is available either as interactive pages or a 64 page PDF containing detailed analyses of countries and genres plus Global, US and Canadian album and singles charts.
