At the midyear level of 2023, Republic Records had put up a 12.46% present market share — outlined as albums launched in the previous 18 months — which was a outstanding determine, and greater than 4.5% increased than the second-largest label. Now, as 2023 has come to a detailed, Republic completed the yr even increased, reaching an eye-popping 13.47% present market share for the yr. That’s the best full-year mark since a minimum of 2015, when streaming started to carry the {industry} out of its post-CD doldrums, and greater than 3% increased than its present share in 2022, which was a then-industry-leading 10.38%.
Republic’s high-water mark stems from a mix of each enduring releases courting again to the top of 2022 and large albums from two of the most important stars on the planet this yr: Taylor Swift and Morgan Wallen. For full-year 2023, Swift and Wallen (signed by Republic’s cope with Big Loud, which by itself commanded a 2.33% present share) mixed for seven of the highest 10 albums in U.S. consumption models, in accordance to Luminate, together with 4 of the highest 5. With Metro Boomin’s Heroes & Villains rating at No. 10, Republic had an astonishing eight of the ten greatest albums in the United States in 2023. And Republic’s fourth quarter was much more dominant: In the ultimate three months of the yr, the label’s present market share ballooned to 16.79%, buoyed by new albums from Drake, Nicki Minaj and Stray Kids. That’s increased than the present share of your entire Warner Music Group throughout that three-month interval, which stood at 15.50%.
Following Republic — which incorporates Island, Big Loud, Mercury Records, Cash Money and indie distributor Imperial in its market share — Interscope Geffen A&M (IGA) got here in second in present share, at 8.80%, up from the 8.72% it tallied in 2022. The label — which additionally encompasses Verve Label Group — scored one other massive success with Olivia Rodrigo’s sophomore album GUTS. It additionally noticed important approval for Verve’s Jon Batiste, as soon as once more a Grammy darling, and continued its extraordinarily sturdy current observe report of breaking new artists, with Gracie Abrams up for greatest new artist at this yr’s Grammys — a class the label has received in three of the previous 4 years.
The success of Republic and IGA helped guardian firm Universal Music Group roar again to a 35.84% present market share for 2023, leaping two factors yr over yr from 2022’s 33.57%. In second, Sony Music Entertainment additionally grew yr over yr, up to 27.08% from 2022’s 26.99%, whereas Warner Music Group dipped to 16.95%, down from final yr’s 18.30%. The indies, by distribution possession, accounted for 20.13% present market share, down from 21.14% in 2022.
In third and fourth place in present share amongst frontline labels are a pair of Warner Music Group labels, Atlantic Records (6.83%, down from 9.15% in 2022) and Warner Records (5.96%, up from 4.86% in 2022). Atlantic (encompassing 300 Elektra Entertainment), which dipped from second to third place yr over yr, scored an enormous win with the Barbie soundtrack in addition to No. 1s from Lil Uzi Vert and Jack Harlow, regardless of a two-plus level proportion drop in present share. Meanwhile, Warner Records — which incorporates Warner Latin, catalog label Rhino and elements of Warner Nashville in its share — surged from sixth place final yr to fourth place this yr with a greater than 1% increase. Zach Bryan’s self-titled album and No. 1 Hot 100 single “I Remember Everything” led the best way, with Bryan touchdown at No. 4 on Billboard’s year-end Artist 100 rating and his “Something in the Orange” being the third-most-streamed music of 2023.
In fifth, Capitol Music Group additionally noticed an enormous year-over-year increase in present share, from 4.97% in 2022 to 5.90% in 2023. The label — which stays in fifth place regardless of the soar in share and encompasses Motown/Quality Control, Blue Note, Astralwerks, Capitol Christian and indie distributor Virgin Music — loved the breakout success of Ice Spice (signed in conjunction with 10K Projects) in the previous yr in addition to a high 10 Hot 100 single from Toosii.
Sixth place in present share belongs to RCA Records at 4.70%, a one-spot soar over final yr when it got here in with 4.65%. The label, whose market share doesn’t embody another labels or distributors, benefited from the enduring success of SZA’s multi-Grammy nominated S.O.S. album, the third-biggest venture of 2023, in addition to enormous hits from Doja Cat, Tate McCrae and Ateez, the latter of which landed a No. 1 album in the fourth quarter. Dropping into seventh is Columbia at 4.67% of present share, down from fourth in 2022 when it had a 6.67% share. Columbia, which incorporates some labels from indie distributor RED in its market share, nonetheless racked up an enormous hit with Miley Cyrus’ “Flowers,” which spent eight weeks at No. 1 on the Hot 100 this yr on its approach to turning into the fourth-most-streamed music of 2023 and the most-heard music on radio in the United States, in accordance to Luminate.
In eighth, Sony Nashville jumped a half proportion level yr over yr to 2.32% from 1.89% final yr, with an enormous Luke Combs album serving to it rise one spot from final yr’s rating. Meanwhile, Sony’s Epic Records slipped to ninth yr over yr, regardless of boosting its present share from 2.23% in 2022 to 2.30% in 2023 and scoring a pair of huge tasks from Travis Scott — whose Utopia album was the seventh-biggest of 2023, in accordance to Luminate — and Tyla with “Water,” which roared into the Hot 100’s high 10 late in the yr. Rounding out the highest 10 is one more Sony label, Sony Latin, which additionally had an enormous yr, upping its present share from 1.24% in 2022 to a formidable 1.95% in 2023.
In general market share, Republic’s dominance with newer releases lifted it to the No. 1 slot over IGA, 9.83% to 9.65%, regardless of the latter’s industry-leading 9.93% share of the catalog market. Atlantic, at 8.09%, sits comfortably in third, whereas Warner Records and Capitol Music Group are neck-and-neck in fourth and fifth, with 6.68% and 6.66% general share, respectively, with their catalog shares tied at 6.92%. Columbia’s 6.65% catalog share is sufficient to carry it into sixth in general share, forward of RCA, with the 2 separated at 6.14% and 5.16%, respectively, in general share. Epic (2.61%), Sony Nashville (2.05%) and Def Jam (1.84%) spherical out the general high 10 rankings.
Among the label teams, the load of catalog as soon as once more lifts all ships, with UMG leaping to an industry-leading 38.46% general market share, up from 37.54% in 2022. Sony additionally noticed a rise yr over yr, ending 2023 at 27.18%, up from 2022’s 26.87%, whereas Warner dipped barely yr over yr, to 18.62% in general share in 2023 in contrast to 19.05% in 2022. The indies by distribution possession additionally fell, to 15.74% from 16.54% in 2022.
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