Geoff Mayfield Continued growth in streaming is delivering another upbeat year for the music business, both in the U.S. and globally, according to Luminate’s 2022 Midyear Report.
The study also shows Latin and country continuing to gain ground in streaming, with Bad Bunny proving a catalyst for the former.
But the report’s biggest surprise might be that a music configuration which has enjoyed more than a decade of growth could see its growth streak plateauing: the LP.With on-demand song streams showing a 10.6% lift over the first half of 2021 in the U.S., Luminate reports a 9.3% rise in U.S.
Total Album Consumption (album sales plus equivalent revenue from song sales and streams) and a 12.4% gain in on-demand audio streams.
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