Last month, US industry body the RIAA published its latest mid-year figures. They revealed a 9.1% increase in the retail value of recorded music there to $7.69bn in the first half of 2022. Now, as it traditionally does, the RIAA has put out separate figures for Latin music specifically.
That generated $510m of revenue in the first half of the year, thus reaching a new record share of the overall market: 6.6%. Latin music’s growth continues to outstrip the overall market too: those revenues were up by 23% year-on-year – well over double the overall market growth. However, as with the wider market, the growth has slowed – that 23% compares to a 35% increase in the first half of 2021.
Elsewhere in the figures, ad-supported music continues to over-index for Latin music in the US, accounting for 22% of its revenues compared to 11% for the overall market.
Get A Free Music Ally Account
Access unlimited News articles on the site, PLUS a trial of Music Ally’s subscriber-only services, including our industry-leading daily Bulletin email.