The global music streaming industry reached a milestone in 2024, with total streams approaching 5 trillion, according to new data from Luminate's annual report.
International markets drove significant growth, with streaming volumes outside the United States jumping 17.3% year-over-year. Weekly global streams now top 70 billion, nearly double the figure from three years ago.
Female artists dominated the charts, with Taylor Swift leading the pack. She claimed the top spot with 12.8 billion streams and was named the most influential artist of the year. Notably, seven of the top ten most-streamed artists were women, highlighting a major shift in the music landscape.
Pop music saw unexpected growth in the US, outpacing Latin music with a 0.48% increase in market share. This surge was primarily driven by female artists like Swift, Billie Eilish, and Sabrina Carpenter.
The report also uncovered interesting trends in music consumption. Streaming services saw a slight decrease in daily track uploads, dropping to 99,000 from 120,000 in the previous year. Emerging markets showed impressive growth, with Asia leading subscription streams at a 10.7% increase.
A standout finding was the rise of "superfans" – dedicated music consumers who spend significantly more on music experiences. These fans now represent 20% of US music listeners, spending an average of $113 on live events and showing deep engagement with artists.
Globally, the music market continues to diversify. While the US, UK, and Canada remain top music exporters, their combined market share of premium streams slightly declined to 56.22%, down from 57.52% in 2023.