Luminate, the entertainment industry’s leading data partner, has released its 2024 Year-End Music Report. Drawing on 23 trillion data points from thousands of artists and data from over 500 authorised partners spanning digital, retail, and airplay, the report offers an authoritative look at the key trends shaping the global music industry in the past year.
Speaking on the release, Rob Jonas, CEO of Luminate, stated: “With the global music industry reaching nearly five trillion streams in 2024, engagement continues to grow internationally. Our annual report provides unmatched insights into music consumption, audience behaviours, and emerging markets. The trends outlined in this year’s analysis highlight areas such as superfans, ex-U.S. streaming growth, and genre shifts, alongside insights into music documentaries and publishing activity using enriched songwriter metadata.”
Global Streams Near 5 Trillion, Driven by Emerging Markets
Global music streaming reached a record high of 4.8 trillion on-demand audio (ODA) streams in 2024, representing a year-on-year increase of 14% (2023: 4.2 trillion). Emerging markets led the way, with ODA streaming in ex-U.S. territories growing by 17.3%, outpacing the U.S. growth rate of 6.4%.
Asia saw the most significant rise in premium streaming, with a 10.7% year-on-year increase, followed by Europe (8%) and Latin America (6.1%). The top ten fastest-growing countries for premium streaming include:
- Türkiye: +17.8%
- Croatia: +16.1%
- Romania: +15.7%
- Malaysia: +14.7%
- South Korea: +14.7%
- Slovakia: +12.8%
- Japan: +12.8%
- Hungary: +12.1%
- Greece: +12%
- Hong Kong: +11.6%
Artists from Mexico, Brazil, and India saw the largest gains in global streams, reflecting the expanding global marketplace.
U.S. Streaming Growth Driven by New Releases and Leading Female Artists
U.S. streaming growth was powered by new releases, with tracks from 2020–2024 making up 49.6% of all streams. Pop music surpassed Latin as the fastest-growing genre, with female artists such as Taylor Swift and Billie Eilish leading the charge.
Despite a 2.3% decline in its share, R&B/Hip Hop remained the most-streamed genre in the U.S., accounting for one in four streams (341 billion). Meanwhile, Country music gained traction internationally, and Christian/Gospel music saw a sharp rise among millennial and Gen Z listeners, now making up 45% of the genre’s audience.
Taylor Swift Tops Global Rankings
Taylor Swift dominated globally, becoming the most-streamed songwriter of 2024 and ranking as the world’s most influential artist on the inaugural Luminate Index. Female artists occupied eight of the top ten positions, with Adele and Beyoncé following Swift. Rihanna ranked No. 1 among Gen Z consumers.
Top 10 Most Influential Artists:
- Taylor Swift
- Adele
- Beyoncé
- Elton John
- Rihanna
- Eminem
- Shakira
- Ariana Grande
- Lady Gaga
- Dolly Parton
Concert Films and Music Documentaries Drive Monetisation
Concert films and music documentaries highlighted their value to streaming platforms and rights holders. Notable examples include Netflix’s ‘Miss Americana,’ which experienced a resurgence in viewership, boosting streams of Taylor Swift’s music catalogue.
The Beach Boys documentary on Disney+ drove a sustained lift in global on-demand audio streams for the group, demonstrating the monetisation potential of such content.
Top Music Documentaries by Minutes Watched in 2024:
| Title | Minutes Watched | Release Date | Platform |
|---|---|---|---|
| The Greatest Night in Pop | 1.27B | 29/01/24 | Netflix |
| I Am: Celine Dion | 507.1M | 25/01/24 | Prime Video |
| Return of the King: The Fall and Rise of Elvis Presley | 340.9M | 13/11/24 | Netflix |
| Miss Americana | 230.7M | 31/01/20 | Netflix |
For full insights, download the 2024 Luminate Year-End Music Report from their website.
Visit https://luminate.com
