Over 38 Million Tracks Went Unheard on Streaming Services in 2022
Discover the latest report by Luminate on the top entertainment trends for 2023, which sheds light on some shocking statistics about the global music streaming industry, explore how these stats could impact the Caribbean music scene and what music creators can do to ensure their music is discoverable and resonates with listeners.
Justin Black, Music Business Analyst -
Luminates' Rob Jonas's recent report revealed some shocking information about the current state of music streaming services, which is a vital platform for Caribbean music.
The report highlights that there are over 158 million tracks available on music streaming services globally, and 67.1 million of these tracks received ten or fewer streams in 2022.
This means that almost half of the entire music catalog available on music streaming services received minimal plays, which is quite concerning.
Additionally, the report revealed that 24% of the 158 million tracks on music streaming services attracted zero plays in 2022.
This translates to 38 million tracks that received no plays throughout the year, which is a staggering figure.
So, what does this mean for the Caribbean music industry?
These statistics are a clear indication that the digital music streaming market is oversaturated, and the competition for plays and audience attention is intense.
It highlights that there is a need for artists and record labels to focus on developing their marketing strategies, to ensure their music is reaching their core target audience.
Moreover, it emphasizes the need for quality control in the music industry.
The report reveals that an enormous number of tracks receive little to no engagement, indicating that the market is not necessarily rewarding the quantity of music being produced.
Therefore, artists and record labels need to invest in the quality of their music production, marketing, and distribution to stand out in the market.
In essence, the Luminate report's findings emphasize the importance of quality over quantity in the music industry.
Caribbean artists and record labels should focus on developing quality marketing strategies, production, and distribution to attract and maintain their audiences.
With the saturation of the music streaming market, it is crucial to be innovative, and creative and develop unique ways of promoting music to stand out in the industry.
