Music data company Luminate’s new 2023 Midyear Music Report details the latest record-breaking release and consumption stats.
Luminate, a music and entertainment analytics platform partnered with Billboard, just published their latest report, which contains a few key statistics related to US and global music trends. You can view the entire report for free here.
The “The Impacts of New Tracks” section reveals that the first six months of 2023 have seen an average of 112k new tracks added to streaming services each year, with this stat in particular based on “Average new ISRCs added per day through the first two quarters of 2023”. This is a 28% increase from 93.4k tracks per day in 2022.
After last year’s record high 34.1 million new audio and video ISRCs created throughout the year, 2023 is well on its way to becoming the highest amount to date, on track to surpassing 40 million by the end of the year. The next chart on the report details that major distributors only cater to 3.3% of the industry, while independent distributors, such as RouteNote, take care of the other 96.7% of creators.
What’s more, streams are up too! In the first six months of the year, there have been more than two trillion audio streams across platforms, a 22.9% increase on the same period last year.