On-demand music streaming volume grew dramatically in India between the first and final weeks of 2022, according to a new report. Photo Credit: Luminate
Global on-demand music streams (for audio as well as video) hiked by 25.6 percent to crack 5.3 trillion during 2022, as stateside on-demand streams grew by double digits to surpass 1.3 trillion, according to a newly released report.
The music streaming stats – and several other noteworthy data points – came to light in a just-published 2022 yearend report from Luminate. As mentioned, domestic on-demand song streams (audio and video) increased by 12.2 percent year over year (YoY) in 2022 to hit 1.3 trillion, the document shows.
Approximately 1.14 trillion of these streams derived from audio platforms (Spotify, Apple Music, and Amazon Music among them), for a 12.1 percent YoY boost, compared to 3.4 trillion audio streams globally (of the aforesaid 5.3 trillion total), up 22.6 percent YoY, according to the resource.
Meanwhile, video’s global on-demand music streaming jumped by 31.2 percent YoY to account for the remaining 1.9 trillion, per the analysis.
Back to the U.S. music market in 2022, both single-track downloads (151.9 million, down 25.1 percent YoY) and digital album sales (20.2 million, down 22.8 percent YoY) continued to decline, the breakdown states.
And on the physical front, a 28 percent sales improvement for cassettes (440,000 units moved) and comparatively modest 4.2 percent growth for the still-resurging vinyl (43.5 million units moved) were unable to offset CDs’ ongoing decline, the study indicates.
Specifically, the document relays that CD album sales fell by 11.6 percent (35.9 million units moved) in the States last year, thereby driving a 3.5 percent dip for overall physical album sales (79.9 million units).
(Interestingly, only 50 percent of “vinyl buyers own a record player,” per the resource, though the figure nevertheless marks a 194 percent “higher likelihood than average music listeners.” Meanwhile, Gen Z listeners are said to be 27 percent likelier to buy vinyl than the average fan, besides spending 19 percent “more time with music weekly” and 10 percent “more money on music monthly.”)
Catalog releases, referring to those that, among other things, debuted at least 18 months back, are still swinging upward as a percentage of total domestic listenership, the report shows. 72.2 percent of stateside listening reached catalog works, according to the analysis, up from 69.8 percent in 2021.
Lastly, for significant music streaming takeaways from the 52-page-long resource, on-demand streams are said to have grown dramatically in India from the first week in 2022 (around nine billion streams) to the year’s final week (over 14 billion streams).
In keeping with other listening data, Bad Bunny, Taylor Swift, Harry Styles, and BTS ranked prominently on the report’s sales charts. During 2022, Swift sold 219,000 digital copies of Midnights in the U.S., yearend charts show, on top of 640,000 CD copies, 945,000 vinyl copies, 14,000 cassette copies, and 436,000 digital copies of “Anti-Hero” to boot.