We covered the RIAA’s mid-year 2018 figures for the US recorded-music market last month, but now the industry body has broken out some numbers for the Latin music market (in the US) separately. “Revenues grew 15%, totalling $135m, while streaming represented a remarkable 91% of the entire market,” is the headline finding for the first six months of 2018. That growth included a 70% increase in revenue from paid subscriptions to $72m; a rise of 30% for on-demand ad-supported streams on services including Spotify and YouTube; and a 28% drop in Latin music revenues from ‘digital and customised radio’ services to $25m.
It’s thus clear that Latin music outperformed the overall recorded-music market in the US in the first half of this year – the September figures showed that the total market grew by a still-impressive 10% year-on-year. Latin also continues to over-index in streaming, given that the format accounted for 75% of retail recorded-music revenues in the first half of the year in the US, but 91% for Latin music.