US trade body the RIAA has published its mid-year figures for Latin music in the US, and once again it has outperformed the overall market.
The body recently reported that the US recorded music market grew by 5.6% year-on-year in the first half of 2020, but revenues from Latin music grew by 18.6%.
At $296.1m, it accounted for 5.2% of the overall market. What’s more, this particular sector’s growth is accelerating: in the first half of 2019, it was up by 13.5% year-on-year.
One thing hasn’t changed: Latin music is almost entirely a streaming market in the US: streaming accounted for 96% of its revenues in the first half of 2020, and revenues from paid subscriptions were 69% of that streaming income.
Ad-supported streaming is still important for Latin music in the US though: 19.9% of its revenues, compared to 7.5% for the overall market.