Streaming continues to be the primary force driving the music industry, with artists from every corner of the globe achieving significant numbers on the charts at an unprecedented rate. The latest report by Luminate, a research company, reveals that on-demand audio streams for music are growing at a faster rate than ever before, and they have already surpassed one trillion in 2023 on a global scale.
On March 31, a new record was set for the earliest reach of a particular target in a single year. The top global songs list is currently led by Miley Cyrus’ “Flowers,” which has accumulated over 1.16 billion global audio streams and is the most streamed song of 2023 so far. This isn’t surprising, as the single debuted at No. 1 on the H๏t 100 chart on January 28 and dominated the chart for six consecutive weeks. Following behind “Flowers” is SZA’s “Kill Bill,” which garnered a massive 885 million on-demand global audio streams. The single was the highest-charting hit on SZA’s first No. 1 album, “SOS,” with 20 songs debuting on the H๏t 100. The Weeknd’s “Die For You” received a new remix featuring Ariana Grande, his “Love Me Harder” duet partner. It’s currently the third most-streamed song globally with 629 million streams.
In the meantime, two collaborations have made it to the top five list. Bizzarap and Shakira’s “BZRP Music Sessions #53” have accumulated a total of 627 million streams, while Rema and Selena Gomez’s “Calm Down” have reached 601 million audio streams in 2023 alone. The current data aligns with the annual streaming trends, showing a significant year-over-year increase that has turned streaming into a revenue-generating machine. In fact, according to the Recording Industry Association of America’s latest mid-year report, 84% of the US music industry’s revenue came from streaming.
According to Luminate’s report, on-demand audio streaming increased by 22.6% globally in 2022, a slightly lower growth rate compared to the previous year’s 26.3% surge. The report also revealed that American music consumers reached a milestone of 1 trillion streams for the first time in late November 2022, with the year-end total hitting 1.1 trillion.
According to the report, Bad Bunny’s album “Un Verano Sin Ti” has been declared the most popular album of the year in the United States, a historic moment as it is the first time a non-English language album has received this recognition. The album was released digitally and saw a debut of 273,000 equivalent units in May 2022, with almost 96% of those units coming from streams and the remaining 4% from digital album sales.