Latin Music Streaming Soars, US Market Share Hits 5.8% at Mid-12 months: RIAA

Latin music continues its profitable streak with U.S. recorded music revenues rising 37% to $407 million for the primary six months of 2021, based on the RIAA’s 2021 mid-year Latin income report.

The expansion of Latin music revenues (with “Latin” understood as music that’s carried out primarily in Spanish) outpaced that of the general U.S. music market, which grew by 27% within the first half of 2021 in comparison with the identical interval the 12 months prior.

Latin music now represents a 5.8% share of the general U.S. market with revenues hitting $407 million within the first half of 2021 — 96% of which got here from streaming for $393 million.

The style’s development has been speedy over the previous few years: The style’s income for the primary half of 2019 was $250 million, after which jumped to $298 within the first half of 2020.

Paid streaming subscriptions grew 41% to $279 million, whereas ad-supported on-demand streaming income elevated 30% to $77 million. Revenues from digital and customized radio providers additionally rebounded, rising 24% to $37 million after a slight decline in 2020.

“It’s unimaginable to see continued double-digit development in Latin music — outpacing the already robust efficiency we’ve seen throughout different music segments and classes and powering new alternatives and better range throughout our enterprise,” mentioned Michele Ballantyne, RIAA COO, in an announcement. “This sustained and accelerating growth speaks to a rising openness to new artists, music and methods of listening — with youthful followers now spending 20% of their time listening in languages apart from English.”

You may entry the complete RIAA report right here.

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