STREAMING POWERS LATIN MUSIC SPIKE

U.S. Latin music revenues of $886m in 2021 continued a six-year trend of double-digit growth, the RIAA reports. Almost all of it comes from streaming.

Revenues from streaming formats grew by 36% to an all-time high of $857 million in 2021, and made up 97% of Latin music revenues.

Revenues from paid subscriptions grew 35% to $593m. Ad-supported on-demand streams (from services like YouTube, Vevo, and the free tier of Spotify) grew 46% compared to the prior year, to $187m.

Physical format revenues rose 71% to $7.7m, driven by increases in both vinyl (up 76% to $5.8m) and CDs (up 44% to $2m).

Latin’s share of U.S. music revenues grew to 5.9%, up from 5.4% in 2020.

“In a year when Bad Bunny was the most streamed artist in the world, stars like Becky G and Anitta pumped out chart-topping hit after chart-topping hit, and audiences joyfully flocked to Latin-powered stadium and arena shows as live performance ramped back up, Latin label teams and artists continue soaring to new heights,” RIAA COO Michèle Ballantyne said.

For the full report, go here.