We would say that Latin music has been having a big moment in the US, but that moment is more of a multi-year phenomenon. The latest stats from US industry body the RIAA offer the latest evidence.
Latin music generated $1.09bn of recorded music revenues in 2022 from the US alone, up 23.8% year-on-year. That’s nearly four times the growth of the overall US recorded music market, which was 6.1% last year.
As in previous years, this is almost entirely a streaming-fuelled trend. Streaming accounted for 97.3% of Latin recordings revenues in the US in 2022. The RIAA also noted that Latin music has grown its share of the overall market from 5.9% in 2021 to 6.9% in 2022.
“That sustained expansion speaks to an openness to new artists, music and ways of listening,” said the RIAA’s SVP, state public policy and industry relations Rafael Fernandez Jr.
The news comes ahead of this month’s Coachella music festival, where Bad Bunny will be its first ever Latin American headliner – another milestone for Latin artists in the US.
Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!