Latin music’s giant digital footprint in the U.S. — bolstered by a streaming force representing 95% of the genre’s market — is driving a 13.5% rise in total revenue as recording acts “gain in critical recognition,” Recording Industry of America president Mitch Glazier says in the latest RIAA Mid-Year 2019 Latin Music Revenue report.
“Latin artists continue to claim growing representation on the mainstream charts,” Glazier says. The thriving consumer interest in Latin music translates to more “demand.”
The Latin music market’s streaming sucess led to a growth of 17% for a total revenue (retail) of $220 million, according to the report. Paid subscriptions through platforms such as Apple Music, Spotify, Amazon Music Unlimited and Tidal, among others, represented a 25% increase to $146 million, revenue for two-thirds of the Latin music streaming market in the first half of 2019.
On-demand, ad-supported streams from services that include YouTube, Vevo and the free version of Spotify, only grew 4% and brought in $44 million, according to the RIAA report. Companies providing distributions and payments in Latin music such as SoundExchange were up 5%, accounting for $30 million.
“Latin music is attracting a diverse and growing global audience,” Glazier says. “Consumers are embracing Latin music.”