The US music industry reached a significant milestone November 26, 2022 as for the first time ever, on-demand audio (ODA) streaming topped 1 trillion streams in a single year.
Given the 30s threshold to count as 1 stream, music fans in the US have cumulatively spent the equivalent of 951k years streaming music this year with a few weeks left to go, reports Luminate. If an individual user was capable of that much streaming on their own, they would have had to start around the time people started controlling fire nearly 1 million years ago to hit the 1T mark.
Within those 1T streams are numerous high-impact stories that helped shape the year in music, including Kate Bush’s juggernaut “Running Up That Hill (A Deal With God)” (ranked #20 in US ODA YTD; 297m); the Latin genre surpassing Country for the first time ever in weekly ODA streaming during Bad Bunny’s album release week ending 5/12/22; and Taylor Swift’s record-setting Midnights album release in October.
Reaching 1 trillion on-demand audio streams in a single year is a huge feat and represents a 611% increase since 2015 when the U.S. industry generated 143B ODA streams. Additionally, the YTD 2022 figure is already 30B streams more than all of 2021 with four weeks left to go in the year.
In the latest US Music 360, Luminate sees positive signs in streaming in that it continues to skew toward younger generations. In fact, among music listeners, 98% of Gen Z, 97% of Millennials and 95% of Gen X all report using a streaming service (either paid or unpaid). Gen Z also reports spending the most time of any generation, listening to music at 15 hours per week. Growing the younger generations into loyal customers is a key ingredient of lifetime value and these stats support a healthy outlook.
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