Latin music revenues in america grew by 6% in 2024, exceeding $1 billion for a 3rd consecutive 12 months. This marks the ninth consecutive 12 months that Latin music outpaced the general progress of the U.S. music market, because the style’s whole share grew to eight.1% from 7.9% in 2023.

Though whole income from Latin music continues to steadily enhance year-over-year, it largely leveled off in 2024. The tally jumped from $1.1 billion in 2022 to just about $1.4 billion in 2023, and within the RIAA‘s newest year-end Latin music report, whole income was once more $1.4 billion in 2024. Streaming made up 98% of that whole, marking a 6% enhance from the earlier 12 months (when streaming accounted for $1.3 billion, a 17% rise over 2022). This might point out a broader pattern of regularly declining streaming income throughout the general market.

Making up almost 1 / 4 of the full worth of Latin music at $354 million are the mixed revenues from ad-supported on-demand streaming (together with providers like YouTube, Vevo, the free model of Spotify, and social media platforms) providers, which is a major share in comparison with the ten% for total recorded music revenues. Whole revenues from these providers throughout Latin music had been up 6% in comparison with 2023.

“With streaming delivering 98% of Latin revenues, we will see how the Latin music neighborhood’s embrace of innovation lets conventional stars and new generations attain followers like by no means earlier than – breaking language and entry obstacles to extra boldly form America’s music future yearly,” mentioned Rafael Fernandez Jr., RIAA senior vp, state public coverage and Latin music.

As famous in RIAA’s full market annual report, paid streaming subscriptions hit 100 million customers the primary time ever. Paid subscriptions contribute greater than two-thirds of whole Latin revenues and grew quicker than every other streaming format, up 6% to $967 million.

Bodily codecs had been up 35% from 2022 and nonetheless have extra room to develop, totaling only one% of income whereas total U.S. market noticed vinyl surge to $1.4 billion – the best it has been since 1984.

“There are nonetheless extra alternatives to push the bounds of innovation, partaking superfans, increasing paid streaming and introducing vinyl nostalgia to this particular market,” famous Matthew Bass, RIAA VP, analysis and gold and platinum operations. “After almost a decade rising and rising once more, Latin music retains surging throughout the U.S. and is just getting began!”