US industry body the RIAA has published a mid-year report on Latin music’s performance in the US. Revenues for it grew by 37% to $407m in the first half of 2021. That outpaced the overall recorded music market, which grew by a (still impressive) 27% in that period, according to figures released by the RIAA in September. Latin music now accounts for 5.8% of US recorded music revenues, up from 5.2% in the first half of 2020.
Streaming is the absolutely dominant format driving this growth: it accounts for 96% of total Latin music revenues in the US now, compared to 84% of the overall recorded music market there. Paid subscriptions account for more than two thirds of Latin music revenues, but ad-supported on-demand streams from YouTube, Spotify’s free tier and other services take a 19% share, compared to 11% of the overall market.