In 2022, Latin music revenue exceeded $1 billion for the first time, seeing a 24% annual increase and outgrowing the broader industry.
Link copiedLatin music has been growing at a rapid pace — and it just hit a milestone.released Wednesday by the Recording Industry Association of America shows that, in 2022, Latin music revenue exceeded $1 billion for the first time. It also saw a 24% annual increase, outgrowing the broader industry.
The majority of Latin music revenues was almost entirely made up from streaming, at 97%, growing 25% from the previous year to $1.06 billion. Paid subscriptions accounted largely for the growth, making up 71% of the overall streaming revenues and outpacing other digital formats. Ad-supported on-demand streams from platforms like YouTube, Vevo and Spotify's free version saw an annual increase of 24% to $230 million, indicating a double-digit growth for the category.
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