One of the crucial traits in recent times has been the truth that on the other hand rapid recorded-music revenues grew in the United States, Latin recorded tune revenues grew quicker.
The primary 1/2 of 2023 was once no exception. Whilst general revenues grew through 9.3% there, revenues for Latin tune greater through 14.8% consistent with labels frame the RIAA.
That suggests $627m of Latin recorded tune revenues in the United States within the first six months of 2023, up from $547.4m the former yr.
The figures confirmed 16% enlargement for streaming revenues as a part of this. At $615.5m, streaming now accounts for a whopping 98.2% of the cash made through Latin recorded tune in the United States. That compares to streaming’s 84% proportion of the entire marketplace.
The RIAA famous that ad-supported services and products from YouTube, Spotify’s unfastened tier and social media services and products like Fb, TikTok and YouTube Shorts account for 23% of Latin tune revenues, which is upper than the ten% proportion they take of general recorded tune in the United States.
Latin tune’s proportion of general US recorded tune revenues is now 7.5%, up from 6.6% this time final yr. You’ll learn the RIAA’s mid-year Latin tune file right here in English and right here in Spanish.
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