Halfway through the year, a few music trends have become apparent: Global music streams are up, Latin music has become the fastest growing streaming genre in the United States, and physical album variants — multiple releases of the same — are on the rise.The global music industry surpassed 1 trillion streams at the fastest pace, ever, in a calendar year, Luminate’s 2024 Midyear Report has found. The number was reached 10 days faster than in 2023.
Last year, Latin music was among the top three fastest growing genres in the U.S., says Jaime Marconette, Luminate’s vice president of music insights and industry relations. The 2024 figures illustrate a continuation in that trend. In 2024, physical album sales increased 3.8% in the U.S. over this time last year, climbing to 24.7 million from 23.8 million, the data and analytics company found in its report.
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