A Single Day in 2024 Sees More Music Released Than the Entirety of 1989, Says Study

Recent analyses reveal a dramatic surge in daily music releases, surpassing the total annual output of 1989. Music Radar's comprehensive report on the "music creation economy" highlights that each day now sees more tracks uploaded to streaming platforms than were released throughout the entire year of 1989.

Will Page, former Chief Economist at Spotify and PRS for Music, notes a significant shift toward independent production: "More music is being released today (in a single day) than was released in the calendar year of 1989. And more of that music is being done by artists themselves, meaning there’s even more demand for music production software."

The year 1989 was a game-changer for music. The Stone Roses by The Stone Roses and Doolittle by Pixies brought alternative music to new heights, while Disintegration by The Cure defined the sound of introspection. Paul’s Boutique by Beastie Boys flipped hip-hop on its head with its wild sampling. On the pop side, Madonna’s Like a Prayer and Janet Jackson’s Rhythm Nation 1814 set new standards for Pop. And then there was Nirvana’s Bleach, quietly sowing the seeds of a grunge revolution.

Fast forward to today, and the music scene feels like a different planet. Technology—and AI in particular—has made music creation more accessible than ever. Tools like MuseNet and AIVA let anyone create, arrange, and even master tracks from their bedroom. It’s an exciting time, no doubt, but it’s also a bit chaotic.

The report also indicates a 12% increase in music creators from 2021 to 2022, totaling 75.9 million. Projections suggest this number could more than double by 2030, reaching approximately 198.2 million. This trend points to the mainstreaming of casual music creation and an unprecedented expansion of the music creator economy.

In 2023, an estimated 120,000 tracks were added daily to streaming services like Spotify, amounting to over 43 million new songs annually.

Spotify's financial performance reflects this growth. In Q2 2024, the company reported revenues of €3.81 billion, a 20% increase from the previous quarter, and a net profit of €274 million.

This success follows strategic decisions, including price adjustments for existing plans and a 17% workforce reduction in late 2023 to manage costs.

Daniel Ek, CEO of Swedish music streaming service Spotify. CREDIT: TORU YAMANAKA/AFP via Getty Images

However, Spotify's policy changes have sparked controversy. On April 1, 2024, the platform demonetized songs with fewer than 1,000 streams, a move criticized for hindering emerging artists' ability to earn royalties and gain industry traction.

CEO Daniel Ek faced backlash for comments suggesting that content creation costs are "close to zero." He stated, "Today, with the cost of creating content being close to zero, people can share an incredible amount of content." These remarks were perceived as dismissive of the time, effort, and resources artists invest in their work, leading to widespread criticism from the music community.

The evolving dynamics of the music industry underscore the need for platforms to balance profitability with fair compensation and support for artists, especially as the volume of new music continues to grow exponentially.

And then there’s the elephant in the room: are we trading quality for quantity? This explosion of music creation, fueled by AI, isn’t slowing down. By 2030, the number of music creators could more than double, and the tools at their disposal will only get more sophisticated.