Latin music music exceeds US $ 1 billion for the third year in a row, according to the annual Ria -report points to 6% in 2024 and 8.1% share in the US market

THE RIAA (Association of Phonographic Industry of America) He released his annual report on the performance of Latin music in the United States in 2024. The survey shows that the segment exceeded the mark of $ 1.4 billion in revenues for the third consecutive year, with growth of 6% compared to 2023.

According to the document, All numbers refer exclusively to the US marketincluding consumer data, streaming and physical sales. The report shows that 98% of the total revenue of Latin music in the US came from streaming, which generated $ 1.37 billion – a 6% increase over the previous year. In 2023, the rise had been 17%. Deceleration may indicate a broader trend of stabilization on on -demand music platforms.

The most prominent format within the streaming was paid signatures, which reached $ 967 million, also growing 6% and representing more than two thirds of Latin sector revenue. According to Riaa, this format was the fastest growing among the types of streaming analyzed.

The platforms with ad support, such as Youtube, Vevofree versions of the Spotify And social networks, they totaled $ 354 million – almost a quarter of the total revenue of Latin music, a significantly higher share than the 10% recorded in the US general music market. This type of revenue also grew 6% by 2024.

Despite digital dominance, the RIAA report points to a 35% increase in physical sales compared to 2022. Still, these formats represent only 1% of Latin music revenue, while in the general market vinyl discs moved $ 1.4 billion in 2024 – the largest volume since 1984.

Second Rafael Fernandez Jr.senior vice president of Riaa, the scenario shows how Latin music continues to expand borders (via Variety):

“With streaming representing 98% of Latin revenue, we see how the Latin music community has embraced innovation, allowing traditional artists and new generations to reach the public like never before – breaking language barriers and access to shape America’s future future.”

RIAA’s vice president of research, Matthew Bassreinforced the industry’s growth potential:

“After almost a decade of constant growth, Latin music remains on the rise in the United States – and that’s just the beginning.”

The participation of Latin music in the US market also grew: it was 7.9% in 2023 to 8.1% in 2024, maintaining the trajectory of nine consecutive years surpassing the rhythm of growth of the music market in the country.