Latin Music Revenue Reaches Record $685 Million

Latin music revenues in the U.S. reached a record $685 million in the first half of 2024, marking a 7.3% year-over-year increase, according to the RIAA. Streaming remains the dominant revenue source, with paid subscriptions contributing two-thirds of total Latin music earnings, while ad-supported platforms saw a 10% growth. This growth continues to outpace the overall recorded music market, which saw a 4% increase in total revenues to $8.7 billion. Despite a slowdown in paid-streaming growth from previous years, ad-supported streaming revenues rose significantly, indicating a shift in consumption patterns. The physical music market also showed promise, with revenues from vinyl and CDs doubling and increasing 21% compared to 2023. Latin music now constitutes 7.9% of the total U.S. recorded music market, reflecting its expanding cultural influence.