Global music streaming saw significant growth in 2024, with total on-demand audio streams reaching 4.8 trillion worldwide, marking a 14% increase from the previous year.

U.S. streaming growth maintained steady momentum with a 6.4% increase, totaling 1.4 trillion streams. In contrast, non-U.S. markets demonstrated stronger growth, with a 17.3% year-over-year increase accounting for 3.4 trillion streams.

Key findings from Luminate's 2024 year-end report:

Genre Performance in U.S.:

• R&B and hip-hop remained the most streamed genres
• Latin and country/folk showed the strongest growth
• Hip-hop's overall streaming share continued to decline

Platform Analytics:

• 99,000 new ISRCs added daily (down from 103,500 in 2023)
• Only 13% of tracks exceeded 1,000 annual streams

Physical Media Sales:

• Overall U.S. album sales decreased 1% to 55.6 million units
• Independent retailers sold:
  • 17.3 million vinyl units
  • 5.4 million CDs
  • 165,000 cassettes
• Vinyl sales increased 4.3% excluding independent retail data

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