Latin Music revenue in the United States increased by 6% in 2024 and exceeded $ 1 billion for the third year in a row. This marks the ninth year in a row as Latin music exceeded the total growth in the US music market, as the total proportion of the genre grew to 8.1% from 7.9% in 2023.
Although the total revenue from Latin music continues to increase steadily year to year, it largely leveled in 2024. The call jumped from $ 1.1 billion in 2022 to almost almost almost $ 1.4 billion 2023And in RiaaThe latest Latin music report, total revenue was again $ 1.4 billion in 2024. Streaming accounted for $ 98% of the total, marking an increase of 6% from the previous year (when the flow accounted for $ 1.3 billion, an increase of 17% over 2022). This may indicate a wider trend of gradually diminishing flowing revenue over the total market.
To make up almost a quarter of the total value of Latin music to $ 354 million are the combined proceeds from AD-supported on-demand flow (including services such as Youtube, Vevo, the free version of Spotify and social media platforms) services, which is a significant proportion compared to 10% for total recorded music revenue. The total revenue from these services over Latin music increased by 6% compared to 2023.
“When streaming delivers 98% of Latin revenues, we can see how the Latin music community’s embrace of innovation sounds traditional stars and new generations to reach fans that never before – to break language and asset barriers for more bold forma America’s Music Future every year,” said Rafael Fernandez Jr.
As mentioned in RIAA’s full market report, streaming subscriptions have been paid 100 million users for the first time ever. Paid subscriptions contribute more than two -thirds of total Latin revenue and grew faster than any other stream format, an increase of 6% to $ 967 million.
Physical formats increased by 35% from 2022 and still have more room to grow, a total of only 1% of revenue, while the total US market saw vinyl increase at $ 1.4 billion – the highest it has been since 1984.
“There are still more opportunities to operate the boundaries of innovation, engage superfans, expand paid streaming and introduce vinyl nostalgia to this specific market,” noted Matthew Bass, RIAA VP, research and gold and platinum surgery. “After almost a decade that rises and rises again, Latin music continues to rise over the United States and is just running!”