And Latin added 2.5 million units over last year’s total, increasing from 6.86% to 7.84% this year. World Music added 3.3 million units, vaulting over dance/electronic into sixth with a 5.22% share of the current market, up from 3.29% at this time last year. The country genre came in 4.5 million units higher than at the same point in 2022, boosting its current share from 7.98% to 10.16%. Looking at the current share illustrates where those gains came from. In comparison, the top three genres - R&B/Hip-Hop, Rock and Pop, in that order - all ceded share of the market at least somewhat year over year.Ĭountry Music Consumption Is Way Up in 2023 - and Morgan Wallen Is Leading the Charge Each managed to grow their overall share of the market significantly over the same period last year: Country, the fourth-biggest genre, rose from 7.83% to 8.36% Latin, in fifth, grew from 6.25% to 6.72% World, in seventh, grew from 2.20% to 2.76%. genres like K-Pop and Afrobeats - was up 42.5% Latin was up 21.9% and Country was up 21.1%. In terms of overall percentage growth year over year, World Music - which encompasses ex-U.S. The three genres that experienced the biggest growth over the first half of 2023 also tell the story of the first six months of the year, and they’re undeniable on several metrics. So, with R&B/hip-hop’s market share at its lowest point since 2018, is it just a cyclical, first-half blip due to domination by the likes of Morgan Wallen and Taylor Swift so far this year? Or something deeper? Current Share Tells the Story of the First Half Even more concerning are its current numbers, which we’ll get to in a second.
Overall album sales growth - huge for rock (45.85%) and pop (30.99%) - was just 2.53%, though growth at all in that metric is still positive. Its share of on-demand streaming has dropped from 29.39% to 27.31% - more than two percentage points. R&B/hip-hop’s overall market share has slipped from 27.64% halfway through 2022 to 25.92% halfway through 2023, more than a point and a half. Yet there are signs for concern - and not necessarily just because of gains in other genres. Still, it’s been a weird year R&B/hip-hop actually accumulated more growth in raw units in the first half of 2023 (8.3 million) than in the first half of 2022 (7.8 million). And as consumption overall grew by 13.4%, R&B/hip-hop remained stagnant at 6.3% - the same mark it had at the midway point of last year. And in terms of year over year unit growth, R&B/hip-hop slipped to second at 13.01% of the market’s growth, behind rock (17.71%) and just ahead of country (12.35%).
There is the biggest one - in the first half of the year, no hip-hop album had yet topped the Billboard 200, a distinction that finally ended in the first week of the third quarter with Lil Uzi Vert’s Pink Tape this week. Some of that dominance, however, has begun to slip. Morgan Wallen's 'One Thing at a Time' & Miley Cyrus' 'Flowers' Lead Luminate's 2023… Rock’s catalog share of 23.31% is behind R&B/hip-hop’s 27.15% in the rankings, but is much higher than that of pop (12.91%) and country (7.69%), the next two genres in share. It’s a testament to the enduring value that exists in classic rock recordings - and a reason those catalogs continue to be valued, bought and sold at such high figures - and helps explain why it still represents such a large part of the market, despite rock not generally being represented in the highest echelons of the charts. It’s the second-largest growth metric among genres in terms of catalog, just behind R&B/hip-hop in raw numbers (11.2 million), though because R&B/hip-hop actually declined in current releases (more on that later), rock saw the biggest overall growth in unit terms.
That growth, however, is almost entirely from catalog - 10.3 million of it, compared to 900,000 units of growth from current releases.
Overall, rock has grown most of any genre year over year in consumption units, with 11.2 million more units in 2023 over 2022. Here are four other observations from the first half of 2023. Record Label Market Share Midyear 2023: Republic Cruises to Huge Lead, Interscope Heats Upīut that’s just one of the big takeaways derived from combing through the data six months into this year.
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