Music Genre Market Share Midyear 2023: Catalog Drives Rock Surge as R&B/Hip-Hop Slides

this week. 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 and just ahead of country . 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. Still, it’s been a weird year; R&B/hip-hop actually accumulated more growth in raw units in the first half of 2023 than in the first half of 2022 .

Yet there are signs for concern — and not necessarily just because of gains in other genres. 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. Its share of on-demand streaming has dropped from 29.39% to 27.31% — more than two percentage points. Overall album sales growth — huge for rock and pop — was just 2.53%, though growth at all in that metric is still positive.

The flip side of that is the current percentage drops from the other leading genres. Current R&B/hip-hop share fell from 27.50% halfway through 2022 to 22.62% this year, an almost 5% decline, and dropped 8.0% in consumption units year over year. Pop slid from 12.87% to 10.69% in share, dropping 7.1% in consumption units year over year. Rock’s slip in share was more modest , but also still fell, though its unit count actually grew .

So far this year over midway through 2022, K-pop consumption is up 154.9%, and Afrobeats consumption is up 143.8%. They’re still small in terms of actual consumption numbers — K-pop’s numbers compare most directly to those of children’s music for the first half of the year, for example — but they no longer exist in the realm of the potential. The industry has spent the past few years pouring money and resources into these areas and hoping to boost these artists in the States.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Record Label Market Share Midyear 2023: Republic Cruises to Huge Lead, Interscope Heats UpElsewhere, both Capitol Music Group and Warner Records jumped ahead, while Sony had a big first half showing from its Latin and Nashville divisions.
Source: billboard - 🏆 112. / 63 Read more »

York's Penn Market opens its doors to Broad Street Market vendors following fireFollowing a devastating fire at Harrisburg's Broad Street Market, Penn Market in York says it has opened its doors to vendors impacted by the fire.'We understan
Source: CBS21NEWS - 🏆 304. / 63 Read more »