BARRIO (Hits Daily Double) – The RIAA’s mid-year report for Latin music shows another year of growth for the genre in the U.S. For the first half of 2023, Latin music generated a record high of $627m in revenues, growing 15% compared to the first half of 2022.
Accounting for 98% of Latin music revenues, streaming’s growth continued in the first half of 2023, with paid subscriptions reaching $431m, comprising more than two-thirds of total revenues.
“U.S. Latin music revenues reached an all-time high in 2022, and the growth has continued mid-year into 2023,” says RIAA SVP, State Public Policy & Industry Relations Rafael Fernandez, Jr. “This has been driven by both the vitality of classic hits and chart-topping new releases that have influenced broader culture and society. This sustained passion for Latin music was at the heart of this year’s RIAA Honors, which celebrated Icon Gloria Estefan and Artist of the Year Sebastián Yatra, alongside policymakers and executives who came together to tell an all-American story about the power of diversity and new voices in music, politics and communities across the country.”