LATIN MUSIC US Recorded Revenue Hits Record $886M in 2021. Latin music revenues grew 35% last year, marking the sixth consecutive year of double-digit growth, according to a year-end report just released by the RIAA.
That’s the highest figure ever for Latin music before adjusting for inflation and marks overall revenue growth of 35% compared to 2020 — far outpacing the 23% growth rate seen in the overall U.S. music market, as previously reported by the RIAA. “With growth of 35% – far surpassing the overall growth rate for recorded music revenues – Latin music is connecting with fans in a historic way,” said RIAA COO Michèle Ballantyne in a statement included in the report.
Streaming formats made up the bulk of all Latin music revenues, accounting for 97%. Within that, paid music subscriptions were the biggest driver of revenue growth, increasing 35% to $593 million and accounting for more than two-thirds of all U.S. Latin music revenues.
by Celeste M. Moy
Cover Image: AirBNB/Eric Rojas