US Latin recorded music market was up 28% in 2019S

By Emmanuel Legrand

(Source: RIAA)

In 2019, the Latin recorded music market in the US grew at a faster rate than the overall US music market. It reached $554 million in 2019, up 28% year-on-year, when the overall market grew by 13%, according to figures released by the RIAA.

  Streaming formats accounted for $529m, comprising 95% of total Latin music revenues in 2019. Revenues form paid subscriptions accounted for 65% of all revenues, while on-demand ad-supported platforms (YouTube, Vevo) represented 23% and customised radio revenues collected by SoundExchange for 12%.

  Digital download sales fell 20% to $17m, and revenue from physical product was only $4.2m, down 24% versus 2018. Combined, they accounted for just 4% of US Latin music revenues.

(Source: RIAA)

  In 2019, Latin music accounted jumped from 4.4% in 2018 to 5.0% of the total $11.1bn US recorded music business in 2019, noted RIAA's Joshua P. Friedlander, SVP, Research and Economics and Matthew Bass, Manager, Research.