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Latin music revenues in US growing faster than overall market


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The RIAA has published its annual year-end report on Latin (recorded) music revenues in the US, revealing that they grew by 28% to $554m in 2019. That’s more than double the rate of growth of the overall US market, which was 13% that year. $529m of those Latin revenues (i.e. 95%) came from streaming, helping the category grow from 4.4% of the US market in 2018 to 5% in 2019.

The report breaks down all these numbers in greater detail: paid subscriptions generated 65% of Latin streaming revenues in the US last year, while ad-supported services accounted for 23%. That’s interesting: it’s a lot higher than the 10% share of the overall US market generated by ad-supported on-demand services last year, which says something about the importance of YouTube and Spotify’s free tier for Latin artists.

The report makes a useful companion to Nielsen’s report on last year, which claimed that Latin music accounted for 5.3% of total music volume (consumption) across all formats, but 14.5% of on-demand video streams.

 

Image by JStone / Shutterstock.com

Stuart Dredge

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