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Luminate continues in its mission to unify data with the acquisition of Quansic, a specialist music data company with a focus on artist identification services.
Announced today (Feb. 6), the arrangement is another step in Luminate’s efforts to unify data for the entertainment industry, by tapping Quansic’s expertise in the harmonization of metadata across record labels, streaming platforms, song publishers, and artist services within the music ecosystem.
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Based in France, Quansic maintains the world’s largest artist identification database which includes over 2.5 million ISNIs (artist identifiers) and 200 million asset identifiers.
Terms of the transaction weren’t disclosed.
With immediate effect, Quansic’s team will join Luminate, remaining under founder and chief scientist FX Nuttall, who now reports to Luminate CEO Rob Jonas.
“Quansic has earned the trust of many key leaders in the music data space, which is no surprise given the quality of the product and service FX and his team have built,” explains Jonas in a statement. “We warmly welcome them into the Luminate family and look forward to collaborating and taking our music data offerings to the next level, especially as we close the gap between the disparate data that labels and publishers have historically relied on to drive their businesses forward.”
In future, Quansic’s clients will have the option to access Luminate’s industry-leading streaming and sales data, and Quansic’s data will be incorporated into Luminate’s new data platform, which was announced last year and will be launched in several phases over the coming months, serving clients in the music industry and beyond.
“Combining our unique data quality with Luminate’s scale, capabilities and influence is essential for advancing our vision to unify data within the music industry,” adds Nuttall. “We are eager to scale that work with Luminate and look forward to bringing unprecedented value to the music industry.”
Luminate is an independently operated company owned by PME TopCo, a PMC subsidiary and joint venture between Penske Media Corporation and Eldridge. Billboard is an independently operated company owned by PME Holdings, a subsidiary of PME TopCo.
Share of streaming among the top 10,000 tracks measured by Luminate in its recently-released 2023 Year End Music Report went down by 3.8 percentage points since 2021. Which begs the question: Where did that 3.8% go?
It went fully into the streaming share of Spanish language tracks, which went up by 3.8%.
Indeed, today, Spanish is the second most consumed language in music, both in the U.S. and globally.
In the United States, the top three languages in music consumption by percentage of the total are, of course, English (88.8%), followed by Spanish (8.1%) and Korean in a distant third (0.7%).
The most recent numbers show Spanish language music’s market share among the country’s most popular songs almost doubled over the past two years — jumping from 4.2% of the top 10,000 tracks in 2021 to 8.1% in 2023. Overall, consumption of Latin music in the U.S grew by 19.4 billion on-demand audio streams in 2023, a 24.1% jump. In total number of streams, it was second in growth only to country, which grew by 20.4 billion streams.
Worldwide, English-language music consumption among the 10,000 most listened to tracks fell substantially in 2023, from 67% in 2021 to 54.9% in 2023. Spanish-language music consumption also dipped, from 12.4% in 2021 to 10.1% in 2023, while consumption of music in Hindi grew from 6.1% to 7.8%, and in Japanese from 1.3% to 2.1%. However, all told, Spanish is still the second most listened to music language in the world, according to the study.
In the U.S., Spanish-language music’s growth has been a very gradual process that’s come with the growth of streaming, a bigger Latin population, and with a major cultural shift that accepts that there are more cultures and languages that can coexist. Chief among them is Spanish, which benefits from being the lingua franca of an entire continent, plus Spain. While Latins are not monolithic, as many have long pointed out, they are all (with the exception of Brazilians) united by language; go to any Latin music concert in the U.S., and you’ll find a plethora of nations gathered under the same roof enjoying the same music, regardless of its origin.
The shift in consumption has been noticed by mainstream labels; 25 years ago, Latin acts like Shakira and Ricky Martin, had to record in English to garner widespread promotion. Spanish, the language which has long defined “Latin” music, was conversely, widely seen as stepping stone on the path to international superstardom but not as the goal.
Today, for the first time, mainstream labels are signing and developing artists who record solely, or almost solely in Spanish, such as Yahrtiza y su Esencia to Columbia Records and Xavi to Interscope.
There is strength in numbers, and those numbers opened the door for Latin artists to scale the charts by singing only in Spanish, as well as for predominantly Spanish-language series –like “Narcos” and the new “Griselda”—to score big viewing numbers despite what many would have perceived as a language barrier years ago.
But clearly, today there is a growing number of non-Spanish speakers who also listen to music in Spanish. According to recent consumer research insights from Luminate, for example, 25% of U.S. music listeners (ages 13+) said they engage with Spanish-language music, even though Hispanics account for 19% of the population.
People may not speak Spanish, but they’re definitely listening to the music.
In 2023, Taylor Swift loomed so large in the world of vinyl albums, that one of every 15 vinyl albums sold in the U.S. was by the superstar.
Comparatively, in 2022, she accounted for one of every 25 vinyl albums sold.
Swift was the year’s top-selling act on vinyl for a third straight year, with 3.484 million copies sold across her catalog of albums, according to data tracking firm Luminate. The industry’s total vinyl album sales for 2023, across all artists in the U.S., finished at 49.61 million – up 14.2% from 43.46 million in 2022. 2023 marked the 18th consecutive year vinyl album sales grew in the U.S., and the largest year for vinyl album sales since Luminate began tracking data in 1991.
In 2023, Swift’s vinyl sales accounted for 7% of the industry’s total vinyl album sales.
Read more about the year-end numbers in the U.S. 2023 Luminate Year-End Music Report.
Swift’s vinyl sales were so big in 2023 that she sold more than the next seven-biggest-selling acts on vinyl last year. Lana Del Rey was the year’s No. 2-seller on vinyl, with 646,000 copies sold, followed by Tyler, the Creator (552,000), Travis Scott (474,000), Olivia Rodrigo (408,000), Kendrick Lamar (382,000), Metallica (378,000) and The Beatles (373,000). (To round out the top 10-selling acts on vinyl last year, Fleetwood Mac was No. 9, with 357,000, and Mac Miller was No. 10 with 354,000.)
The top-selling vinyl album of 2023 was Swift’s 1989 (Taylor’s Version) with 1.014 million sold. That marks the largest yearly sales total for a vinyl album, and the first vinyl set to sell a million in a calendar year, since Luminate began tracking sales in 1991. The set also scored the largest sales week for a vinyl set since 1991 when it debuted with 693,000 copies sold in its first week.
Swift has five of the top 10-selling vinyl albums of 2023, and the entire top three. (See list, below.)
TOP 10-SELLING VINYL ALBUMS OF 2023 IN U.S.1. Taylor Swift, 1989 (Taylor’s Version) (1.014 million)2. Taylor Swift, Speak Now (Taylor’s Version) (510,000)3. Taylor Swift, Midnights (492,000)4. Travis Scott, Utopia (373,000)5. Taylor Swift, Folklore (308,000)6. Olivia Rodrigo, Guts (267,000)7. Taylor Swift, Lover (256,000)8. Lana Del Rey, Did You Know That There’s a Tunnel Under Ocean Blvd (215,000)9. Fleetwood Mac, Rumours (206,000)10. Lana Del Rey, Born To Die (192,000)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023.
Vinyl album sales comprised 47.1% of all album sales in the U.S. in 2023 (49.61 million of 105.32 million). Vinyl LPs accounted for 57% of all physical album sold last year (49.61 million of 87 million). Both sums are Luminate-era records for vinyl’s share of the album sales market in the U.S.
For the third consecutive year, and the third year since Luminate began tracking sales in 1991, vinyl albums outsold CD albums in the U.S. Vinyl once again is the leading configuration for album purchases for the third year in a row. (Vinyl was the top-selling album configuration in 2023, followed by CDs and then digital download albums.)
Vinyl was the dominant configuration for album purchases in the U.S. up until the early 1980s. After that, cassettes took hold until the early ‘90s, when the CD configuration blossomed and remained king until 2021, when vinyl retook the top slot.
Luminate began tracking music sales in 1991 when the company was known as SoundScan. Luminate’s sales, streaming and airplay data is used to compile Billboard’s weekly charts. Luminate’s 2023 tracking year ran from Dec. 30, 2022, through Dec. 28, 2023. Luminate is an independently operated company and a subsidiary of PME TopCo, a joint venture between Penske Media Corporation and Eldridge. Billboard is an independently operated company owned by PME Holdings, a subsidiary of PME TopCo.
Taylor Swift dominated the U.S. market in 2023 by accounting for 1.8% of music consumption and one out of every 78 audio streams, according to Luminate’s 2023 year-end report released Wednesday (Jan. 10). But even without Swift, last year Americans streamed a record amount of music and purchased more albums than the year before.
U.S. music consumption grew 12.6% in 2023 to 1.1 billion units (measured as album sales plus track equivalent albums and streaming equivalent albums). With that double-digit gain, the U.S. market easily exceeded the 9.2% improvement from 2022 and had its biggest one-year gain since consumption grew 15% in 2019.
The streaming market picked up momentum in 2023 despite on-demand services already reaching mainstream status and subscription prices increasing in recent years. On-demand song streaming — both audio and video — climbed 14.6% to 1.5 trillion streams, an improvement on the 12.2% growth in 2022 and 10% growth in 2021. On-demand audio streams from services such as Spotify and Apple Music rose 12.7% to 1.2 trillion.
It was another good year for vinyl LPs and CDs as consumers continued to keep the album format alive in an era of single-serving music. Overall U.S. album sales rose 5.2% to 105.3 million — a rebound from 2022, when overall sales fell by 8.2%. Physical album sales grew 8.9% to 87 million while digital album sales fell 9.3% to 18.3 million.
Repeating a trend seen in recent years, the music Americans consumed in 2023 got a little older. The share of album consumption for catalog — releases more than 18 months old — was 72.6%, a slight increase from 72.2% in 2022. Total catalog album consumption increased 13.2% to 796.8 million units. Current music’s share of album consumption dropped to 27.4%, though current album consumption still increased in unit terms, rising 10.9% to 300.4 million units.
In the year it celebrated its 50th anniversary, hip-hop was the most popular genre in the United States with a 25.3% share of album units (album sales plus track equivalent albums plus streaming equivalent albums) — even though no hip-hop song topped the Hot 100 until Doja Cat’s “Paint the Town Red” did it in September. Rock was No. 2 with a 19.4% share and pop was No. 3 with a 12.3% share. Country and Latin rounded out the top five with 8.4% and 6.9% shares, respectively.
Rock led album sales with a 41.5% share, more than triple No. 2 hip-hop’s 12.9% share and No. 3 pop’s 12.7% share. Country was No. 4 with a 7.8% share and World — mainly K-pop — was No. 5 with a 6.9% share.
In terms of growth rate, World music — which also includes J-pop, or Japanese pop, and Afrobeats — topped all other genres with a 26.2% increase in U.S. on-demand audio streams to 5.7 billion. No. 2 Latin was close behind with 24.1% growth but was far larger with 19.4 billion on-demand audio streams. Country was No. 3 in terms of growth, up 23.7% and with a total of 20.4 billion on-demand audio streams.
On the other end of the spectrum was comedy, which excels at YouTube and TikTok but lost 10.2% of its on-demand audio streams in 2023. New age fell 6.9% and children’s music dropped 6.2%.
Led by Peso Pluma, Regional Mexican grew 60% to 21.9 billion U.S. on-demand audio streams, with Peso ranking No. 43 overall in U.S. on-demand audio streams with 1.9 billion. Another rising Regional Mexican artist, the group Eslabon Armado, amassed 1.3 billion U.S. on-demand audio streams — good for No. 71 overall.
J-pop totaled 1.67 billion on-demand audio streams (of J-pop tracks ranked in the top 10,000 world music songs). J-pop’s success comes from a youth movement: Fans are 95% more likely than the general population to be Generation Z and 94% more likely to identify as LGBTQ+, according to Luminate.
Direct-to-consumer album sales increased 38.6% to 11.8 million units as record labels put greater resources behind selling albums to their fans from artist and label websites. Rock was the D2C leader with a 38.6% share, followed by pop with 18.3% and R&B/hip-hop with 13.2%. D2C vinyl sales grew by 1.9 million to 6.8 million, up from 4.8 million in 2022. D2C CD sales rose 400,000 units to 3.9 million, up from 3.5 million.
The average U.S. monthly spend on music increased to $116 in the third quarter of 2023 from $96 in the prior-year quarter. That was about even with the $117 average monthly spend seen in the full-year 2021. Live music accounted for 62% of average monthly spend.
Globally, on-demand song streams — both audio and video — reached 7.1 trillion, up 33.7% from 2022. Global audio on-demand streams totaled 4.1 trillion, up 22.3%.
The United States ranked first globally in total streaming volume with 1.45 trillion, approximately 40% ahead of No. 2 India’s 1.04 trillion and nearly four times No. 3 Brazil’s 374 billion. But India ranked No. 1 in new net streams with 463.7 billion, an increase of 81% from 2022, while the United States ranked No. 2 with 184 billion net new streams and Indonesia was No. 3 with 93.1 billion net new streams (and No. 5 in total streams with 235.5 billion).
By almost every metric, the music business in 2023 has been defined by Taylor Swift and Morgan Wallen. Collectively, they have led the Billboard 200 and the Hot 100 for 23 of the 52 weeks of the year, with Swift topping Billboard’s year-end Top Artists chart and Wallen ruling both the year-end Billboard 200 Albums and Hot 100 Songs charts with One Thing at a Time and “Last Night,” respectively.
Combined, the two recording artists have an astounding 2.49% in overall U.S. album consumption unit market share, according to Luminate. (Year-to-year percentages are based on data from Dec. 29, 2022, through Dec. 28, 2023.) Their domination underscores a year of explosive growth for country — of the two rerecorded albums Swift released in 2023, Speak Now (Taylor’s Version) qualified in the genre — which is up 21.8% year over year. That’s almost double the 12.6% year-to-year growth of recorded music overall for the same period and nearly five times the 4.8% increase the genre had from 2021 to 2022.
Country music accounted for 8.40% of the recorded-music market in 2023, up from 7.76% the year prior — and Swift and Wallen weren’t the only acts fueling those gains. Hit albums by Zach Bryan, Luke Combs and Bailey Zimmerman helped country’s current market share — defined as releases that arrived within the past 18 months — surge from 7.97% to 10.37% year over year, a 30% gain. And while that’s only good enough for third place when the genres are ranked by current market share, No. 1 hip-hop and No. 2 pop both fell year over year: the former from 26.72 % to 22.32%, the latter from 13.07% to 11.13%.
Country’s growth almost outstripped Latin music’s strides. Which isn’t to say Latin had a down year — the genre grew 21.9% year over year, the third-highest mark in the industry, largely due to the mainstream success of such new acts as Peso Pluma and Eslabon Armado, and its volume growth (13.5 million units year over year) bested that of pop (11.6 million). In 2021, Latin’s share of the overall industry was 6.33%; in 2023 that number has jumped to 6.86%, and its 37.8 billion on-demand streams for current releases is the third-highest among genres.
R&B/Hip-Hop Slips Again
R&B/hip-hop remains firmly entrenched as the No. 1 U.S. genre with 25.27% of the market, largely because of its outsize percentage of on-demand streams. (The genre accounts for more than one in four streams.) But some metrics indicate that hip-hop’s dominance — it commanded nearly 30% of the overall market in 2020 — may be waning.
The genre’s market share has dipped every year since that 2020 peak, as has its share of on-demand streams, which stood at 30.11% in 2021 and is now at 26.63%. Current consumption of R&B/hip-hop has also slipped 7.4% from 2022 to 2023 and is down in every format for the same period — including the genre’s strong suit, streams, which dropped 7.0% to 93.2 billion. Despite No. 1 Billboard 200 releases from Travis Scott, Drake and Rod Wave, among others, hip-hop albums have continued to lose share since the midyear headlines that the genre had not produced any full-length chart-toppers. That said, its 93.2 billion current streams is more than double the 38.8 billion racked up by 2023’s second-place genre, pop, which sustained overall growth this year. And while R&B/hip-hop’s overall growth, at 5.9%, was 10th among genres, it finished third on that metric in overall volume, adding 15.6 million equivalent album units over last year, behind only rock and country.
Tipping The Sales Scales
While overall album sales have seesawed over the last few years, they have shown growth this year — up 5.2% after a down 2022. Driving sales once again is rock, which has a monumentally large share of the market: 41.47% of all album sales and 43.36% of physical sales. Those numbers are larger than the next four genres — R&B/hip-hop, pop, country and World music, in that order — combined and largely stem from immense catalog sales. Rock sales account for 47.50% of the entire catalog category — defined as music older than 18 months — a 4.0% year-over-year increase. Rock catalog album sales totaled 30.8 million units in 2023, more than the combined sales — current and catalog — of the next two genres, pop and R&B/hip-hop.
Latin music’s album sales growth is the inverse of rock. With just 0.57% of overall album sales in 2023, the genre ranks 14th out of the 15 core genres tracked by Luminate — lower than blues, jazz, classical and holiday/seasonal. Only new age placed below it.
Like hip-hop, Latin’s huge overall growth comes mostly from on-demand audio streams, but also a big chunk of the on-demand video streaming market, 10.0%, which is larger than its 6.86% overall market share. Pop is the only other genre on this chart where its market share of on-demand video streams exceeds its overall percentage by that much: 17.35% to 12.33%.
World Music’s Gains
Latin is just one genre of non-English-language music that occupies more and more of the mainstream U.S. music market. The umbrella genre of World music, which includes K-pop and Afrobeats, among other styles, has grown massively. In 2019, World music accounted for 1.69% of the overall industry; in 2023, that’s up to 2.73%, a 35.3% jump. That growth is most evident when looking at album sales. World music captured 6.93% of the market this year, with physical sales totaling 7.96% of that figure. The bulk of those sales is attributable to K-pop, which surged 88.8% year over year. Afrobeats also had a big impact on the genre, particularly in on-demand streaming, where it was up 54.3% year over year.
Titanic Taylor
Swift’s dominance of music and popular culture this year has been well documented. But how big is she in genre terms? With 18.89 million in album consumption units so far this year, her industry market share is 1.79%. If Swift was her own genre, she’d rank at No. 9 based on the data used here — just a few thousand units shy of Christian/gospel’s 1.76% market share and ahead of children music’s 1.11%. In 2023, Taylor Swift is bigger than jazz.
Morgan Wallen’s One Thing at a Time closed out 2023 as the most popular album of the year in the U.S., according to music data tracking firm Luminate. The album’s lead single, “Last Night,” was the year’s most-streamed song by on-demand audio streams, while Miley Cyrus’ “Flowers” was the most-heard song on the radio. Total music consumption in the U.S. – as measured in equivalent album units – increased by 12.6% in 2023. (View the U.S. 2023 Luminate Year-End Music Report.)
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See the year’s top 10 albums chart, along with other year-end rankings and overall industry volume numbers, below.
But first, the fine print:
Equivalent album units – for album titles and chart rankings cited below (but not industry volume numbers) – comprise traditional album sales, track equivalent albums (TEA) and streaming equivalent albums (SEA). Each unit equals one album sale, or 10 individual tracks sold from an album, or 3,750 ad-supported on-demand official audio and video streams generated by songs from an album, or 1,250 paid/subscription on-demand official audio and video streams generated by songs from an album. Album titles and album chart rankings by equivalent album units do not include user-generated content (UGC) streams, but UGC streams are included in Luminate’s industry volume numbers. (UGC streams are not factored into any of Billboard’s weekly charts.)
For the sake of clarity, equivalent album units do not include listening to music on broadcast radio or digital radio broadcasts. All numbers cited in this story are rounded, and reflect U.S. consumption only.
Luminate’s equivalent album unit totals include SEA and TEA for an album’s songs registered before an album’s release, but during the tracking period of Dec. 30, 2022, through Dec. 28, 2023.
Luminate began tracking music sales in 1991 when the company was known as SoundScan. Luminate’s sales, streaming and airplay data is used to compile Billboard’s weekly charts. Luminate’s 2023 tracking year ran from Dec. 30, 2022, through Dec. 28, 2023.
Luminate is an independently operated company and a subsidiary of PME TopCo, a joint venture between Penske Media Corporation and Eldridge. Billboard is an independently operated company owned by PME Holdings, a subsidiary of PME TopCo.
Highlights from Luminate’s 2023 year-end data:
Morgan Wallen’s One Thing at a Time was Luminate’s top album of 2023. It’s the second time Wallen has led the year-end list. He also was tops in 2021 with Dangerous: The Double Album.
On Luminate’s 2023 U.S. year-end top 10 most popular albums ranking, Taylor Swift has five of the top 10 titles – a single-year Luminate-era record.
Total U.S. album consumption increased by 12.6% in 2023.
R&B/hip-hop continues to hold firm as the top U.S. core genre by total album consumption; the world music genre – inclusive of the Korean pop (K-pop) genre – had the largest percentage gain year-over-year.
Morgan Wallen’s “Last Night” tallied 1.015 billion U.S. on-demand audio streams in 2023 — the most U.S. on-demand audio streams a song has earned in a calendar year. It is only the second song ever to exceed 1 billion on-demand audio streams in a calendar year.
Yearly U.S. on-demand audio streams surpassed 1 trillion for the second time.
27% of all on-demand audio streams in the U.S. in 2023 were R&B/hip-hop songs, the largest share of any core genre.
Swift’s 1989 (Taylor’s Version) is the first vinyl album in Luminate history to sell 1 million copies in a calendar year in the U.S.
Swift sold more albums in 2023 than any other act, accounting for 6% of all albums sold, industry-wide.
The top 10-selling CD albums of 2023 were all by Swift or K-pop acts.
Total U.S. album sales grew 5.2% in 2023 – just the second year that album sales grew in the last 10 years.
U.S. vinyl album sales outsold CDs for the third year in a row. 2023 marked the 18th consecutive year vinyl album sales grew in the U.S., and the largest year for vinyl album sales since Luminate began tracking data in 1991.
47.1% of all albums sold in 2023 in the U.S. – across all configurations, physical & digital combined – were vinyl LPs. 57% of all physical albums sold were vinyl.
Total U.S. album sales for the year (physical and digital download purchases combined) grew by 5.2%.
Swift’s 1989 (Taylor’s Version) sold 1.975 million in traditional album sales in the U.S. in 2023 – the biggest-selling album of any year since 2015.
One Thing at a Time debuted at No. 1 on the Billboard 200 chart dated March 18, 2023, and spent 16 nonconsecutive weeks atop the tally. That marked the most weeks at No. 1 for any album since Adele’s blockbuster 21 spent 24 nonconsecutive weeks at No. 1 in 2011-12. One Thing at a Time is the second Wallen album to be named Luminate’s year-end No. 1 album, after his previous release, Dangerous: The Double Album, in 2021. Wallen is the first artist to have Luminate’s year-end No. 1 album twice in a three-year span since Drake led the year-end ranking in 2018 (with Scorpion) and in 2016 (with Views).
Nearly all of One Thing at a Time’s units earned in 2023 were powered by on-demand streams of its 36 songs. Its collected tracks generated 6.657 billion on-demand streams in the U.S., equaling 92.5% of the album’s total activity for the year (or, 4.962 million SEA units of its total 5.362 million units). One Thing at a Time was also the most-streamed album of 2023.
One Thing at a Time sold 326,000 in traditional album sales in 2023 (making it the No. 13-biggest-selling album of the year). The set also generated 745,000 in individual digital track sales, equaling nearly 75,000 in TEA units.
2023 marks the eighth year in a row in which Luminate’s year-end top album is by a solo male artist. The last time a solo male didn’t finish at No. 1 was in 2015, when Adele’s 25 ruled.
One Thing at a Time’s 5.362 million equivalent album units earned in 2023 is the largest sum for any album measured in a calendar year since 2015, when Adele’s 25 tallied 8.008 million and was the year’s top album.
One Thing at a Time spun off the massive multi-format chart hit “Last Night,” which spent 16 weeks atop the all-genre Billboard Hot 100. The tune also closes 2023 as the most-streamed song by on-demand audio streams.
TOP 10 ALBUMS OF 2023 IN U.S., BY TOTAL EQUIVALENT ALBUM UNITS1. Morgan Wallen, One Thing at a Time (5.362 million)2. Taylor Swift, Midnights (3.209 million)3. SZA, SOS (3.172 million)4. Taylor Swift, 1989 (Taylor’s Version) (2.872 million)5. Morgan Wallen, Dangerous: The Double Album (2.179 million)6. Taylor Swift, Lover (1.875 million)7. Travis Scott, Utopia (1.782 million)8. Taylor Swift, Speak Now (Taylor’s Version) (1.775 million)9. Taylor Swift, Folklore (1.612 million)10. Metro Boomin, Heroes & Villains (1.573 million)
Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023. UGC streams are not included in this chart, but are included in Luminate’s on-demand streaming charts (below).
While Wallen has a pair of titles in the year-end top 10, Taylor Swift looms even larger. Swift has five albums among Luminate’s year-end top 10 – the first time any act has placed that many albums among Luminate’s year-end top 10 since the company began tracking data in 1991. Previously, the most titles any single act had among the year’s top 10 was three, achieved by Garth Brooks in 1993.
On Luminate’s year-end top 10 albums ranking, Swift is found at No. 2 (Midnights, 3.209 million units), No. 4 (1989 [Taylor’s Version], 2.872 million), No. 6 (Lover, 1.875 million), No. 8 (Speak Now [Taylor’s Version], 1.775 million) and No. 9 (Folklore, 1.612 million). Just two of those albums were released in 2023: Speak Now (Taylor’s Version) and 1989 (Taylor’s Version). Midnights was issued in late 2022, while Folklore bowed in 2020 and Lover arrived in 2019. All of Swift’s catalog in 2023 was buoyed by her stadium-filling The Eras Tour and its film adaptation Taylor Swift: The Eras Tour.
Swift also has five of the top 10-selling albums of 2023, five of the year’s top 10-selling vinyl albums and three of the top 10-selling CD albums. She’s also No. 1 on each of the three rankings. (See lists, below.)
TOTAL ALBUM CONSUMPTION INCREASES 12.6%: Equivalent album units increased by 12.6% in 2023, to 1.097 billion (up from 974.9 million in 2022). There were 28 albums that earned at least 1 million equivalent album units in 2023 – up from 19 in 2022.
R&B/HIP-HOP LEADS AMONG GENRES: R&B/hip-hop continues to hold firm as the top genre by total album consumption, with 277.27 million units earned in 2023 – equating to 25.3% of total volume (1.097 billion units) last year across all of Luminate’s core genres measured. R&B/hip-hop consumption increased by 5.9% in 2023 over its volume in 2022 (261.72 million). However, R&B/hip-hop’s share of total consumption decreased from 26.8% in 2022 to 25.3% in 2023. (R&B/hip-hop is an umbrella genre for Luminate that contains most titles categorized as R&B and/or rap.)
2023’s second-largest genre, by total album consumption, was rock with 212.42 million units (up 9.1% from 194.72 million in 2022). Pop music was third, with 135.32 million (up 9.4% from 123.72 million in 2022), country was fourth, with 92.19 million (up 21.8% from 75.69 million in 2022) and Latin was fifth, with 75.26 million (up 21.9% from 61.73 million in 2022).
In terms of the largest percentage gains among Luminate’s core genres, year-over-year, the world music genre had the biggest increase in 2023. The genre’s 34.1% gain last year (29.94 million units vs. 22.32 million in 2022) is inclusive of Korean pop (K-pop) music. (K-pop is one of the many music genres housed within the larger world music core genre.) The second-and-third-largest percentage increases in 2023 among Luminate’s core genres belonged to Latin (up 21.9%, to 75.26 million in 2023, vs. 61.73 million in 2022) and country (up 21.8%, to 92.19 million, vs. 75.69 million in 2022).
TAYLOR SWIFT’S ‘1989 (TAYLOR’S VERSION)’ IS 2023’s TOP-SELLING ALBUM: Taylor Swift’s most recent release, and her fourth re-recorded project, 1989 (Taylor’s Version), was 2023’s top-selling album in the U.S., with 1.975 million copies sold across all configurations (physical and digital combined: CD, vinyl LP, cassette, digital download album). See the top 10-selling albums, below.
TOP 10-SELLING ALBUMS OF 2023 IN U.S. (PHYSICAL & DIGITAL SALES COMBINED)1. Taylor Swift, 1989 (Taylor’s Version) (1.975 million)2. Taylor Swift, Midnights (973,000)3. Taylor Swift, Speak Now (Taylor’s Version) (908,000)4. Travis Scott, Utopia (575,000)5. Stray Kids, 5-STAR (526,000)6. Taylor Swift, Folklore (466,000)7. TOMORROW X TOGETHER, The Name Chapter: TEMPTATION (444,000)8. Taylor Swift, Lover (425,000)9. Olivia Rodrigo, Guts (404,000)10. Stray Kids, ROCK-STAR (229,000)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023.
With 1.975 million copies sold, 1989 (Taylor’s Version) is the biggest-selling album of any year since 2015, when Adele’s 25 sold 7.441 million copies. An album by Swift has been the year’s top-seller in six of the last 10 years: 1989 (Taylor’s Version) in 2023, Midnights in 2022, Folklore in 2020, Lover in 2019, Reputation in 2017 and 1989 in 2014. She also had the top-seller in 2009 with Fearless. Swift is the only act to have the top-selling album of the year at least seven times since Luminate began tracking sales in 1991.
1989 (Taylor’s Version) was also the top-selling vinyl LP of 2023 (1.014 million sold) and the top-selling CD album of the year (800,000 sold). 1989 (Taylor’s Version) is the first album to sell a million copies on vinyl in a calendar year since Luminate began tracking sales in 1991.
Sales of 1989 (Taylor’s Version) were bolstered by its availability across 15 physical configurations: five color vinyl variants, eight CD editions and two cassette albums. Further, of the five vinyl variants, Target carried a color edition that includes one bonus track (“Sweeter Than Fiction”). The set was also issued in two download editions – a standard 21-song version and a deluxe 22-track edition which adds a re-recorded version of the album’s “Bad Blood,” featuring Kendrick Lamar.
Swift, like many acts, leaned into creating additional versions of an album for purchase by superfans. All of the top 10-selling albums of 2023 were aided by their availability across multiple iterations, including many that contained collectible branded merchandise or color vinyl.
Swift by far sold the most albums of any act in 2023 in the U.S., as her collected catalog sold 6.172 million copies (across all configurations, physical and digital combined). Her sales accounted for 6% of all album sales last year across all albums by all artists. The second-biggest selling act, in terms of album sales in 2023, was K-pop group Stray Kids with 1.205 million copies sold.
TOTAL U.S. ALBUM SALES INCREASE BY 5.2%: Total U.S. album sales increased by 5.2% in 2023 to 105.32 million copies sold (up from 100.09 million in 2022). 2023 marked just the second year album sales increased in the last 10 years, following 2021. Album sales declined in every year from 2012-20, and again in 2022, as fans increasingly adopt streaming services as a means to consume music.
Total U.S. physical album sales (CD, vinyl LP, cassette, etc.) increased by 8.9% to 87 million in 2023 (up from 79.89 million in 2022). Digital album sales declined by 9.3% to 18.32 million in 2023 (down from 20.2 million in 2022).
VINYL REIGNS: For the third consecutive year, and the third year since Luminate began tracking sales in 1991, vinyl albums outsold CD albums in the U.S. Vinyl once again is the leading configuration for album purchases for the third year in a row.
Vinyl was the dominant configuration for album purchases in the U.S. up until the early 1980s. After that, cassettes took hold until the early 1990s, when the CD configuration blossomed and remained king until 2021, when vinyl retook the top slot.
49.61 million vinyl albums were sold in 2023 (up 14.2% from 43.46 million in 2022). 2023 marked the 18th consecutive year vinyl album sales grew in the U.S., and the largest year for vinyl album sales since Luminate began tracking data in 1991.
TOP 10-SELLING VINYL ALBUMS OF 2023 IN U.S.1. Taylor Swift, 1989 (Taylor’s Version) (1.014 million)2. Taylor Swift, Speak Now (Taylor’s Version) (510,000)3. Taylor Swift, Midnights (492,000)4. Travis Scott, Utopia (373,000)5. Taylor Swift, Folklore (308,000)6. Olivia Rodrigo, Guts (267,000)7. Taylor Swift, Lover (256,000)8. Lana Del Rey, Did You Know That There’s a Tunnel Under Ocean Blvd (215,000)9. Fleetwood Mac, Rumours (206,000)10. Lana Del Rey, Born to Die (192,000)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023.
The top-selling vinyl album of 2023 is Swift’s 1989 (Taylor’s Version) with 1.014 million sold. That marks the largest yearly sales total for a vinyl album, and the first vinyl set to sell a million in a calendar year, since Luminate began tracking sales in 1991. The effort also scored the largest sales week for a vinyl set since 1991 when it debuted with 693,000 copies sold in its first week.
Swift closed 2023 with five of the top 10-selling vinyl albums. Further, her catalog of albums sold 3.484 million copies on vinyl in 2023 – the most of any artist. (Lana Del Rey was the second-biggest selling act on vinyl in 2023, with 646,000 sold.) Swift’s vinyl sales accounted for 7% of the industry’s total vinyl album sales in 2023.
Vinyl album sales comprised 47.1% of all album sales in the U.S. in 2023 (49.61 million of 105.32 million). Vinyl LPs accounted for 57% of all physical album sold last year (49.61 million of 87 million). Both sums are Luminate-era records for vinyl’s share of the album sales market in the U.S.
In 2023 a total of 99 albums each sold at least 50,000 copies on vinyl – up from 88 in 2022. Comparatively, 65 albums on the CD configuration sold at least 50,000 copies in 2023 (up from 56 in 2022).
CD ALBUM SALES INCREASE, SWIFT & K-POP DOMINATE: 36.83 million CD albums were sold in 2023 (up 2.7% compared to 35.87 million in 2022), making it the second-most popular configuration for album purchases.
The top 10-selling CD albums of 2023 are comprised entirely of releases by Swift and K-pop artists. All profit from their availability across multiple collectible editions for superfans.
Swift sold the most CD albums in 2023, with 1.985 million copies sold across her entire catalog of titles. Stray Kids wrap as the No. 2-seller on CD, with 1.188 million sold. Swift’s CD sales represented 5.4% of all CD albums sold in 2023, industry-wide.
TOP 10-SELLING CD ALBUMS OF 2023 IN U.S.1. Taylor Swift, 1989 (Taylor’s Version) (800,000)2. Stray Kids, 5-STAR (520,000)3. TOMORROW X TOGETHER, The Name Chapter: TEMPTATION (442,000)4. Stray Kids, ROCK-STAR (381,000)5. NewJeans, 2nd EP Get Up (332,000)6. TWICE, Ready to Be (303,000)7. SEVENTEEN, SEVENTEEN 10th Mini Album Fml (288,000)8. Taylor Swift, Midnights (276,000)9. Taylor Swift, Speak Now (Taylor’s Version) (267,000)10. Jung Kook, Golden (244,000)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023.
Digital album sales were the third-most popular configuration in 2023 for album purchases, and the category dropped by 9.3% to 18.32 million (down from 20.2 million in 2022). The top-selling digital album of 2023 was Swift’s Midnights, with 201,000 downloads sold. Swift additionally was the top-selling artist in terms of digital albums in 2023, with 667,000 downloads sold. Morgan Wallen was the second-biggest-selling artist in terms of download albums, with 187,000 sold. Swift’s digital sales presented 3.6% of all download albums sold, industry-wide.
CASSETTE SALES STEADY: After cassette album sales jumped 28% in 2022, the niche configuration mostly stayed steady in 2023, slipping just 0.75%. In 2023, a total of 436,400 cassette albums were sold – a sliver less than the 439,700 sold in 2022. Cassettes were the leading album configuration for purchases from the early 1980s until the early 1990s. Today, cassette tapes are frequently sold exclusively on an artist’s webstore and in collectible editions. In 2023, the Billboard 200 chart saw No. 1 albums that boasted a cassette configuration from Blink-182’s One More Time, Olivia Rodrigo’s Guts and Swift’s 1989 (Taylor’s Version), Speak Now (Taylor’s Version) and Midnights (which first led the list in 2022).
TOTAL STREAMING INCREASES 14.6%, ON-DEMAND AUDIO UP 12.7%: Total U.S. on-demand song streams (audio and video combined, inclusive of UGC streams) increased by 14.6% to 1.453 trillion in 2023 (up from 1.268 trillion in 2022). Yearly on-demand audio streams (again, inclusive of UGC) surpassed 1 trillion for a second time, with 1.249 trillion (up 12.7% from 1.108 trillion in 2022).
On-demand audio streams comprised 86% of all on-demand streams in 2023, with the remainder generated by on-demand video.
The R&B/hip-hop genre accounted for the most on-demand streams (audio and video combined, inclusive of UGC) in 2023, among Luminate’s core genres, with 26.6% of the year’s volume (387.09 billion of 1.453 trillion).
Rock had the second-largest share of on-demand song streams (audio and video combined, inclusive of UGC) in 2023, with 16.2% of volume (235.11 billion of 1.453 trillion). Pop was third with 12.6% (182.63 billion of 1.453 trillion), Latin was fourth with 8.3% (120.18 billion of 1.453 trillion) country was fifth with 7.8% (113.09 billion of 1.453 trillion).
As for year-over-year growth in total on-demand streams (audio and video combined, inclusive of UGC) among Luminate’s core genres, world music had the largest percentage growth, increasing by 33.3% to 35.97 billion, as compared to 26.98 billion in 2022. The respective second- and third-biggest increases, by percentage, belonged to the genres of dance/electronic (23.2% to 54.37 billion, up from 44.14 billion in 2022) and country (22.2% to 113.09 billion, up from 92.52 billion in 2022).
Looking just at on-demand audio streams for 2023 (inclusive of UGC), R&B/hip-hop was tops with 27% of volume (337.21 billion of 1.249 trillion). Rock (17%; 211.72 billion of 1.249 trillion), pop (11.8%; 147.11 billion of 1.249 trillion), country (8.5%; 106.28 billion of 1.249 trillion) and Latin (8%; 99.71 billion of 1.249 trillion) were Nos. 2-5 for 2023, respectively, as they were in 2022 and 2021.
The genres that saw the largest percentage growth in year-over-year on-demand audio streams (inclusive of UGC) were world music (up 26.2% to 27.52 billion, up from 21.8 billion in 2022), Latin (up 24.1% to 99.71 billion, up from 80.34 billion in 2022) and country (up 23.7% to 106.28 billion, up from 85.91 billion in 2022).
Note: UGC streams are included in Luminate’s industry streaming on-demand volume numbers and its year-end streaming song charts. UGC streams are not factored into any of Billboard’s weekly charts.
‘LAST NIGHT’ SURPASSED 1 BILLION ON-DEMAND AUDIO STREAMS: Morgan Wallen’s “Last Night” was the most-streamed song of 2023 in the U.S. by on-demand audio streams (inclusive of UGC), with 1.015 billion – the most U.S. on-demand audio streams a song has earned in a calendar year.
“Last Night” is the second song to surpass 1 billion on-demand audio streams in a calendar year in the U.S., following Lil Nas X’s “Old Town Road” (featuring Billy Ray Cyrus), which cleared 1.002 billion in 2019.
See the top 10 most-streamed songs, by on-demand audio, below.
TOP 10 MOST STREAMED SONGS OF 2023 IN U.S., ON DEMAND AUDIO1. Morgan Wallen, “Last Night” (1.015 billion)2. SZA, “Kill Bill” (802.60 million)3. Zach Bryan, “Something in the Orange” (656.07 million)4. Miley Cyrus, “Flowers” (634.42 million)5. SZA, “Snooze” (550.83 million)6. The Weeknd, “Die for You” (539.29 million)7. Eslabon Armado x Peso Pluma, “Ella Baila Sola” (526.34 million)8. Luke Combs, “Fast Car” (525.51 million)9. Morgan Wallen, “You Proof” (517.58 million)10. Taylor Swift, “Cruel Summer” (507.78 million)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023. Includes UGC streams.
DIGITAL TRACK SALES DECLINE FOR 11TH YEAR IN A ROW: Digital track sales declined for an 11th consecutive year, falling 11.9% to 133.88 million in 2023 (down from 151.9 million in 2022). The top-selling digital song of 2023 was Jason Aldean’s “Try That in a Small Town” with 497,000 downloads sold. It was the second year in a row that no song sold more than a half-million downloads. Prior to 2022, it last happened in the early days of downloading, in 2004 (the first full year of the iTunes Store, which launched in mid-2003). Further, 2023 marks the second year in a row that no song sold 1 million copies. Before 2022, the industry last had a year without a million-selling download in 2005.
TOP 10-SELLING DIGITAL SONGS OF 2023 IN U.S.1. Jason Aldean, “Try That in a Small Town” (497,000)2. Miley Cyrus, “Flowers” (428,000)3. Oliver Anthony Music, “Rich Men North of Richmond” (358,000)4. Morgan Wallen, “Last Night” (302,000)5. Jimin, “Like Crazy” (296,000)6. Luke Combs, “Fast Car” (251,000)7. Jung Kook featuring Latto, “Seven” (228,000)8. Jelly Roll, “Need a Favor” (181,000)9. Jung Kook, “Standing Next to You” (163,000)10. Rema & Selena Gomez, “Calm Down” (159,000)Source: Luminate, for the tracking period Dec. 30, 2022 through Dec. 28, 2023.
CYRUS’ ‘FLOWERS’ BLOOMED ON RADIO: Miley Cyrus’ “Flowers” was tops on radio in 2023, with 3.919 billion audience impressions earned across all monitored radio stations in the U.S. Audience impressions are measured by cross-referencing plays with Nielsen Audio audience data – i.e., a play of a song on a top-rated New York station at 8 a.m. on a Monday has more listeners (audience) than an overnight weekend play in a smaller city.
TOP 10 RADIO SONGS OF 2023 IN U.S. (BASED ON AUDIENCE IMPRESSIONS)1. Miley Cyrus, “Flowers” (3.919 billion)2. Rema & Selena Gomez, “Calm Down” (3.643 billion)3. Metro Boomin, The Weeknd & 21 Savage, “Creepin’” (3.529 billion)4. The Weeknd, “Die for You” (2.628 billion)5. SZA, “Kill Bill” (2.623 billion)6. Taylor Swift, “Anti-Hero” (2.491 billion)7. David Guetta & Bebe Rexha, “I’m Good (Blue)” (2.448 billion)8. Morgan Wallen, “Last Night” (2.435 billion)9. Luke Combs, “Fast Car” (2.358 billion)10. Harry Styles, “As It Was” (2.199 billion)Source: Luminate, for the tracking period Dec. 30, 2022, through Dec. 28, 2023.
Luminate — which provides data to the Billboard charts — is proceeding with a previously announced plan to retire its weighted data modeling used to measure physical sales in the independent retail sector, according to a note sent Wednesday (Dec. 13) to industry partners and indie retailers.
The change will take effect Dec. 29, the first day of Luminate’s 2024 calendar; and will apply to both the U.S. and Canadian markets, which are measured separately within the Luminate system.
For over 30 years, Luminate and its predecessor companies have relied on sampling of independent stores to extrapolate sales of CDs, vinyl and cassettes for the entire U.S. marketplace.
According to the note to the industry on eliminating weighting, “the goal of this change is for us to present the most accurate data possible to the industry, which is always our primary goal.”
Luminate said that after discussions with all facets of the industry, including retailers, labels, distributors and industry bodies, it decided to proceed with its planned new way of counting indie store sector sales because there was “a consensus that the current weighted modeling should be retired.”
That “consensus” apparently is a new development because Billboard’s reporting over the last six weeks has so far found widespread industry resistance to Luminate’s planned changes for the indie sector.
Going forward, as of Jan. 29, Luminate will count only actual sales from indie stores without extrapolating to measure sales in the entire U.S. market. As of Nov. 15, Luminate stated that it already has 93% coverage of the total U.S. physical market; and was receiving data from 95% of U.S. independent retail stores that reach over 1,000 sales per week.
Luminate’s note says it will work with the entire music industry to find solutions that make the most sense collectively for all parties. Consequently, it said there is agreement that the industry should work to increase the number of retailers reporting sales to Luminate. The company says stores not already reporting its sales can learn more at luminatedata.com or email music.merchantservices@luminatedata.com.
Luminate said it would work with retailers and their point-of-sales systems to streamline the reporting processes; and will assign resources to liaise with indie stores to address questions and provide feedback.
Moreover, Luminate says it will share free weekly physical sales data to all indie reporting stores in the U.S. and Canada that will reflect the best-selling titles for only the indie store sector.
The Luminate note concluded that the data company is confident that its change to actual sales without weighting “is the best way for the industry to access the highest-quality data.”
Note: Luminate is an independently operated company owned by PME TopCo, a PMC subsidiary and joint venture between Penske Media Corporation and Eldridge. Billboard is an independently operated company owned by PME Holdings, a subsidiary of PME TopCo.
Billboard‘s data partner Luminate is improving the way it collects and reflects album sales data from independent music retailers. This week, Luminate revealed to all clients that in week 1 of 2024 (the reporting week that begins Dec. 29, 2023), data on physical sales (vinyl, CDs and cassettes) will reflect a direct representation of those […]
This year has been defined by consistency at the top of the charts, and one record label has led in current market share in each of the first three quarters: Republic Records, which has 12.28% of the market through Sept. 28, according to Luminate. That’s a negligible drop from last quarter’s 12.46% and more than four percentage points higher than the 8.77% share the label had for the same period last year.
Republic’s market share — much like the year overall — has been headlined by the massive Morgan Wallen album One Thing at a Time, which has racked up more than 4.5 million equivalent album units since its March debut, and Taylor Swift’s prolific release schedule, which not only includes her latest collection of new tracks, Midnights, but also the release of Speak Now (Taylor’s Version). Both are among the top 10 albums of the year so far. (Republic’s share also includes Island, Big Loud, Mercury, Cash Money and indie distributor Imperial.)
Wallen’s dominance is such that his label, Big Loud, would rank eighth among all labels on its own, with a 2.69% current market share if it were broken out from Republic, with both One Thing at a Time and his last release, Dangerous: The Double Album, both counting toward current share. (Current is defined as albums released within the past 18 months or that have remained in the top half of the Billboard 200.)
Coming in at a comfortable second place, with big third-quarter releases from Olivia Rodrigo and NewJeans, was Interscope Geffen A&M, which hit a high mark for the year so far with an 8.55% current share, a half-point increase over its midyear mark. That’s down from the 9.23% current share IGA posted at the third-quarter mark of 2022, but is a strong showing in a year in which Republic has vacuumed up so much market share. (IGA’s share also includes Verve Label Group.)
In third place, Atlantic — which encompasses 300 Elektra Entertainment — has also moved to a high mark for the year, with a 7.39% share, up from 7.34% at midyear. The music group’s performance was boosted by releases by Gunna, Lil Uzi Vert and, most significantly, the Barbie soundtrack, which is among the top five albums of the third quarter with over 650,000 equivalent album units.
However, factoring in back catalog to look at overall market share shakes up the top two. Interscope takes the top spot with 9.57%, besting Republic’s 9.49% by a shade over 500,000 units through the first three quarters, with Atlantic in third at 8.31%. That’s due to the deeper catalog of IGA and Atlantic: They are Nos. 1 and 2 in catalog-only share, with 9.91% and 8.62%, respectively. Republic finished third at 8.54%. Coming into the final quarter of the year, that’s a race to watch.
Capitol, which includes Motown/Quality Control, Blue Note, Astralwerks, Capitol Christian and indie distributor Virgin Music, remained steady in fourth place at 6.01% (from 6.0% at midyear) through three quarters. (Although HYBE acquired Quality Control earlier this year, Universal Music Group [UMG] continued to distribute the label.)
In fifth, Warner Records has made large gains throughout the year, largely due to the successes within Warner Nashville. (Its market share also includes catalog label Rhino, as well as Warner Music Latina.) Zach Bryan’s self-titled album has been a standout success in the quarter, while Bailey Zimmerman’s Religiously. The Album continues to perform well. Notably, both Capitol and Warner made big leaps in current market share year over year: Capitol jumped from sixth place to fourth, growing from 4.50% in 2022 to 6.01% in 2023; Warner grew from 4.77% in 2022 to 5.89% in 2023.
Slipping down the rankings year over year was Columbia, which dropped in current share from fourth through three quarters in 2022 (6.93%) to sixth in 2023 (4.93%). Columbia scored big this year with Miley Cyrus’ Endless Summer Vacation, though 2022’s slate with releases from Harry Styles, Beyoncé and Adele represents a tough act to follow. RCA, in seventh, remains on a hot streak led by the huge success of SZA’s SOS — still the No. 2 album of the year — with the label coming in at a 4.64% share, up from 4.47% this time last year.
Epic has roared back after a relatively quiet 2023 on the strength of Travis Scott’s mammoth Utopia, which boosted the label from 1.82% in current share at midyear to 2.39% at the three-quarters mark — its highest quarterly showing for the year. Sony Nashville (eighth, 2.50%) and Sony Latin (10th, 1.96%) round out the top 10, with each growing more than half a percentage point year over year.
Among the label groups, both UMG (up from 32.54% to 34.61%) and Sony Music Entertainment (up from 27.09% to 27.50%) made big year-over-year strides, while Warner Music Group (down from 18.64% to 17.46%) and, collectively, independent labels (down from 21.73% to 20.43%) lost share compared with the same period in 2022.
At the midyear mark of 2023, there’s one over-arching theme: so far, it’s the year of Morgan Wallen. The artist’s album One Thing At a Time is the most-consumed album of the year so far by far, racking up 3.312 million equivalent album units in the U.S. since its March release, while its single “Last Night” gobbled up the most U.S. on-demand audio streams of the year so far, with 588.7 million.
That helps explain a huge leap in country music market share so far this year, with the genre growing to 8.36% of the U.S. market, from 7.83% at the halfway point last year. Overall, in terms of current consumption units — those derived from albums released within the past 18 months — country music increased by 4.5 million equivalent album units over the same period in 2022, the highest among all 15 genres tracked by Luminate in 2023 so far.
But that’s just one of the big takeaways derived from combing through the data six months into this year. Here are four other observations from the first half of 2023.
Why is Rock so big? Catalog.
Overall, rock has grown most of any genre year over year in consumption units, with 11.2 million more units in 2023 over 2022. That growth, however, is almost entirely from catalog — 10.3 million of it, compared to 900,000 units of growth from current releases. It’s the second-largest growth metric among genres in terms of catalog, just behind R&B/hip-hop in raw numbers (11.2 million), though because R&B/hip-hop actually declined in current releases (more on that later), rock saw the biggest overall growth in unit terms.
It’s a testament to the enduring value that exists in classic rock recordings — and a reason those catalogs continue to be valued, bought and sold at such high figures — and helps explain why it still represents such a large part of the market, despite rock not generally being represented in the highest echelons of the charts. Rock’s catalog share of 23.31% is behind R&B/hip-hop’s 27.15% in the rankings, but is much higher than that of pop (12.91%) and country (7.69%), the next two genres in share.
Courtesy Photo
Consider the rankings in terms of current share: rock (10.32%) slides to third place, behind pop (10.69%) and barely ahead of country (10.16%), with Latin coming in fifth at 7.84%. And its current unit growth year over year of 900,000 is significantly behind country (4.5 million), world music (3.3 million) and Latin (2.5 million), although at least it’s still growing, while R&B/hip-hop and pop is not.
R&B/Hip-Hop: The Elephant In the Room
The drumbeat has been growing louder over the past year when it comes to what, exactly, is going on with R&B/hip-hop from a market share perspective. But despite concern that the genres’ grip on the public consciousness is getting diluted, a few things have remained consistent: it remained the largest genre in consumption units, it was still growing the most in raw numbers (if not percentage-wise), and R&B and hip-hop artists were continuously topping the charts dictating the culture.
Some of that dominance, however, has begun to slip. There is the biggest one — in the first half of the year, no hip-hop album had yet topped the Billboard 200, a distinction that finally ended in the first week of the third quarter with Lil Uzi Vert’s Pink Tape this week. And in terms of year over year unit growth, R&B/hip-hop slipped to second at 13.01% of the market’s growth, behind rock (17.71%) and just ahead of country (12.35%). And as consumption overall grew by 13.4%, R&B/hip-hop remained stagnant at 6.3% — the same mark it had at the midway point of last year. Still, it’s been a weird year; R&B/hip-hop actually accumulated more growth in raw units in the first half of 2023 (8.3 million) than in the first half of 2022 (7.8 million).
Yet there are signs for concern — and not necessarily just because of gains in other genres. R&B/hip-hop’s overall market share has slipped from 27.64% halfway through 2022 to 25.92% halfway through 2023, more than a point and a half. Its share of on-demand streaming has dropped from 29.39% to 27.31% — more than two percentage points. Overall album sales growth — huge for rock (45.85%) and pop (30.99%) — was just 2.53%, though growth at all in that metric is still positive. Even more concerning are its current numbers, which we’ll get to in a second. So, with R&B/hip-hop’s market share at its lowest point since 2018, is it just a cyclical, first-half blip due to domination by the likes of Morgan Wallen and Taylor Swift so far this year? Or something deeper?
Current Share Tells the Story of the First Half
The three genres that experienced the biggest growth over the first half of 2023 also tell the story of the first six months of the year, and they’re undeniable on several metrics. In terms of overall percentage growth year over year, World Music — which encompasses ex-U.S. genres like K-Pop and Afrobeats — was up 42.5%; Latin was up 21.9%; and Country was up 21.1%. Each managed to grow their overall share of the market significantly over the same period last year: Country, the fourth-biggest genre, rose from 7.83% to 8.36%; Latin, in fifth, grew from 6.25% to 6.72%; World, in seventh, grew from 2.20% to 2.76%. In comparison, the top three genres — R&B/Hip-Hop, Rock and Pop, in that order — all ceded share of the market at least somewhat year over year.
Looking at the current share illustrates where those gains came from. The country genre came in 4.5 million units higher than at the same point in 2022, boosting its current share from 7.98% to 10.16%. world music added 3.3 million units, vaulting over dance/electronic into sixth with a 5.22% share of the current market, up from 3.29% at this time last year. And Latin added 2.5 million units over last year’s total, increasing from 6.86% to 7.84% this year.
The flip side of that is the current percentage drops from the other leading genres. Current R&B/hip-hop share fell from 27.50% halfway through 2022 to 22.62% this year, an almost 5% decline, and dropped 8.0% in consumption units year over year. Pop slid from 12.87% to 10.69% in share, dropping 7.1% in consumption units year over year. Rock’s slip in share was more modest (10.83% to 10.32%), but also still fell, though its unit count actually grew (the slide in share is due to larger gains elsewhere). It’s a reflection of how the first half of the year has gone in terms of impactful releases in the market.
World Music’s Growth Isn’t Slowing Down
World music now accounts for 2.76% of the overall market in the U.S., up from 2.20% at the midway point last year. It’s not huge, but by percentage, it’s far and away the fastest-growing genre (up 42.5% year over year) in the industry; by raw consumption unit growth, it’s sixth-highest, having increased by 4.4 million units over its midyear 2022 mark. And it’s up by huge percentages in just about every metric: overall album sales (71.3%), physical album sales (76.4%) and on-demand streaming (38.2%) growth all far outstrip the industry overall.
Some of this is just a function of how percentages work: a smaller number that’s growing quickly will naturally have a higher percentage growth than a larger number that, while growing at a larger volume, is growing at a slower rate. But these percentages continuing getting higher, not smaller: in 2020, it grew 8.0% over 2019; in 2021, the metric was 18.9%; in 2022, it was 26.4%. From the first half of 2019 through the first half of 2023, world music is up 131.3%.
So far this year over midway through 2022, K-pop consumption is up 154.9%, and Afrobeats consumption is up 143.8%. They’re still small in terms of actual consumption numbers — K-pop’s numbers compare most directly to those of children’s music for the first half of the year, for example — but they no longer exist in the realm of the potential. The industry has spent the past few years pouring money and resources into these areas and hoping to boost these artists in the States. The metrics are no longer about what the future may look like: it’s here now.