2024-09-23-Luminate-2024年年中音乐报告_64页_14mb

Luminate Midyear Music Report Summary

Core Content Overview

This report provides a detailed analysis of the music industry's performance in the first half of 2024, focusing on streaming, sales, and consumer behavior across the U.S. and select global markets. It highlights trends in artist distribution, genre-specific consumption, and the growing impact of gaming and short-form video platforms on music engagement.

Key Trends and Insights

1. Streaming Growth and Artist Distribution

• Streaming Growth: Global On-Demand Audio streaming increased by +15.1% compared to the first half of 2023.
• Artist Distribution:
  • Indie Artists: Accounted for 62.1% of artists with 1M-10M U.S. On-Demand Audio streams in H1 2024.
  • Mid-Tier Artists: The number of artists reaching 1M-10M and 10M-50M streams increased by 1,414 and 267 respectively compared to H2 2023.
  • Major Label Artists: Comprised 62.3% of artists with 10M-50M streams in H1 2024.

2. U.S. Music Consumption Metrics

• Total Album Consumption: Rose from 491.1M in 2023 to 527.3M in 2024, an increase of +7.4%.
• Digital Music Consumption: Increased from 467.3M to 502.6M, a +7.5% rise.
• Physical Album Sales:
  • Vinyl and CDs: Grew by +3.8%, reaching 24.7M in H1 2024.
  • Independent Retail Sales: Excluded from H1 2024 vs. H1 2023 comparison due to methodology changes, but independent record stores accounted for 29.5% of U.S. physical sales in Weeks 23-26 of 2024.

3. Streaming and Album Equivalence

• Premium vs. Ad-Supported Streams: The number of streams required to equal an album equivalent decreased as premium streaming grew.
• Album Equivalent Streams:
  • Billboard 200: 1,390 premium streams equal one album.
  • Genre Differences:
    • Country Music: Lowest streams per album equivalent.
    • Latin Music: Highest streams per album equivalent.

4. Live Music and Local Streaming

• Live Music Impact: Live events contributed to a +42% increase in local DMA On-Demand Audio Streaming during the event week.
• Genre Variations:
  • Rock and Country saw the most significant growth in local streaming.
  • Pop and Latin had more moderate increases.

5. Gaming and Music Consumption

• Metallica's Fortnite Takeover: Increased global On-Demand Audio streams for six focus songs and the band's catalog by 8.7%.
• Game Genre Preferences:
  • K-Pop listeners over-index in Role-Playing Games.
  • Hip-Hop/Rap listeners over-index in Fighting Games.
  • Dance/Electronic listeners over-index in Rhythm Games.

6. Short-Form Video and Music Engagement

• SFV Engagement:
  • 76% of music listeners in the U.S. have watched short-form videos, while 22% have posted to these platforms.
  • J-Pop and K-Pop listeners are 59% more likely to post SFV.
  • Hip-Hop/Rap and Latin listeners are 41% more likely to post SFV.
• TikTok Dominance: Remains the most-used short-form video platform among music listeners.
• SFV Users: Spend 38% more on streaming services and artist merch than the average U.S. music streamer, but less on physical music.

7. Global Music Consumption Trends

• U.S. Share Decline: The U.S. share of global On-Demand Audio streams decreased by 0.53 percentage points to 41.02%.
• Growth in Other Countries:
  • Mexico increased by 0.74 percentage points.
  • Brazil increased by 0.47 percentage points.
  • France increased by 0.03 percentage points.
• Regional Genre Preferences:
  • Brazil: Over-indexes in Religious, Blues, and Country & Folk; under-indexes in Latin.
  • France: Over-indexes in Reggae and Jazz; under-indexes in Country and Latin.

8. Consumer Attitudes and Behaviors

• Sustainability Concerns: 37% of U.S. physical music purchasers cite sustainability/reusability as a key concern.
• Streaming Features:
  • Exclusive Content is the most important feature for listeners considering switching streaming services.
  • Live Streaming and Additional Content Outside Music are also highly valued.
• Merchandise Purchases: Gamers are more likely to buy artist merch:
  • Gen Z: +11%.
  • Millennials: +19%.
  • Gen X: +25%.
  • Baby Boomers: +40%.

9. Genre-Specific Insights

• HyperPop:
  • Listeners are 160% more likely to listen to vinyl.
  • 6% more likely to be female.
  • 63% White.
  • 12% discover music via Twitch.
  • 69% more likely to value being the first to discover an artist.
• Lofi Hip-Hop:
  • 80% more likely to listen to vinyl.
  • 17% more likely to discover music via Twitch.
  • 69% more likely to value being the first to discover an artist.
• Country Music:
  • 64% of monthly music spend is attributed to live events.
  • 37.4% of listeners are male.
  • 23% are Latin American/Hispanic.
  • 10M-50M streams per album equivalent.

Conclusion

The midyear music report highlights a dynamic and evolving landscape where streaming continues to dominate, but physical music and local live events remain significant. Independent artists are gaining more traction, especially in mid-tier streaming categories, while global consumption is shifting towards international artists. The integration of gaming and short-form video platforms is reshaping how music is consumed and shared, with notable impacts on streaming patterns and consumer engagement. Sustainability and exclusive content are emerging as key drivers for physical music purchases and streaming preferences, respectively. The report also underscores the importance of understanding regional and genre-specific consumption patterns for effective marketing and business strategies.