Each year, Luminate (previously known as Nielsen Music) releases two of the music industry’s most followed reports. The annual and mid-year reports offer insiders light-level insights into the music industry’s ever-evolving landscape.
Now that we’ve reached midyear, we’ve done the heavy lifting and combed through it to highlight only the most significant findings.
Key Findings: Old Tunes Rule, Vinyl Isn’t Dead, and Language Matters
Run-through:
- The Twist in Streaming: Sure, music streaming is up by 9.3%, but the star players aren’t the latest hits. It’s the ‘Catalog’ music, tracks that are more than 18 months old, that are up by a whopping 19%. Remember when Kate Bush’s song resurfaced in ‘Stranger Things’ and blew up by 16,867%? That’s a Catalog power play.
- Vinyl Continues to Grow: Digital albums are the dominant force, but interestingly, Vinyl seems to be becoming the industry’s favourite physical format. Fresh releases on vinyl are up by 27.4%.
- Lost in Translation? Nope!: Music transcends borders, but similar languages do share a vibe. Countries with the same language tend to groove to the same tunes. English-speaking countries like the US, Canada, UK, and Australia, for example, have very similar streaming patterns.
- The Big Spenders: Super Fans spend 40% more than casual listeners. They’re not just about streaming – they’re buying merchandise, concert tickets, and physical albums.
Digging deeper: These insights highlight the evolving nature of music consumption. While streaming remains popular, ‘Catalog’ music is seeing significant demand, vinyl sales are growing, and shared languages influence streaming patterns. These trends are crucial for artists and industry professionals strategizing in this ever-changing landscape.
Bonus: Access the entire report for free [HERE].
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