Luminate, a research company specializing in the music and entertainment industry, has released its annual report on the music industry for the year 2023. One of the key findings is a 22.3% increase in the number of music streams compared to 2022, with a total of over 4.1 billion streams.
When examining the streaming data of listeners in America, the report highlights that R&B and Hip-Hop genres continue to be the most popular. However, there has been significant growth in the popularity of international, Latin, and country music genres.
Another interesting insight from Luminate’s report is the increased popularity of foreign language music among the younger generation (Gen Z) in America. This trend reflects the embrace of new cultural languages, whether it’s Indian, Korean, or Spanish songs.
TLDR: Luminate’s annual report on the music industry reveals a 22.3% growth in music streaming, with R&B and Hip-Hop dominating, and a rising interest in international and foreign language music among Gen Z listeners in America.
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