In a semi-annual report by Nielsen Music, it was concluded that Hip-hop/trap artists claimed 8 of the Top 10 in terms of total album-equivalent consumption measures sales of albums and songs, as well as on-demand streams. With a majority of 2020 spent in lockdown across the globe, the streaming stats have absolutely skyrocketed with hip-hop & trap being on the top of the bubble.
Having originated in the eighties, hip hop and trap started coming into the mainstream in the early 2000s and never stopped growing ever since. Hip-hop artists Post Malone & Roddy Rich also claimed the Top Artists & Top New Artists on Billboard 2020 Year-end charts.
How did Hip-Hop in 2020 compare to that of 2019?
In 2019, Hip-hop & Trap artists claimed only 4 of the Top 10 in contrast to 8 in 2020. Hip-hop songs also accounted for 5 of the Top 10 in 2020 as compared to 3 in 2019. Numbers from the Nielsen report also demonstrated a high percentage of the market share of the music industry falling to Hip-hop & trap.
Another report by the renowned multinational company Goldman Sachs forecasted the revenue generated by streaming platforms is set to double to about $131 Billion by 2030. The report also concluded that current music streaming sales are dominated by top R&B and hip-hop artists such as Drake, Kendrick Lamar, The Weeknd, Migos, and Cardi B.
Influence of Tik Tok on the music industry
2020 also witnessed certain songs completely blowing up out of nowhere because of social media platforms like Tik Tok. Who can forget the heroics of Lil Nas X’s Old Town Road on the platform. The song further went onto more than 1.78bn streams across audio and video platforms in the U.S.Tik Tok songs usually spark specific challenges, ranging from dances to trends like showing off your culture.
With a wide variety of genres going wildly popular on Tik Tok it was witnessed that hip-hop, rap, and trap tend to thrive the most. 7 of the top 10 Tik Tok tracks of 2020 were hip-hop/trap.
Check out the Top Artists Chart of 2020 according to Billboard being dominated by Hip-hop & Trap Artists down below.
Credits by Billboard