We’re gonna name this one early: MBW at the moment predicts that the document music marketplace for Latin artists in america will generate greater than a billion {dollars} in income throughout the 12 months of 2022.
We’re feeling assured on this forecast due to new knowledge launched at the moment (April 12) in a report from the RIAA, which exhibits that Latin music generated $886.1 million on a retail foundation within the US in 2021.
That $886.1 million haul was up by greater than a 3rd (+35.4%) on Latin music’s revenues within the US within the prior 12 months.
This annual income determine will now solely need to rise by an additional 12.9% (+$114m) in 2022 to hit the magic billion-dollar mark.
Contemplating that Latin music’s US revenues rose by 19.6% YoY in 2020 and by 28.5% YoY in 2019, the sensible cash’s on the class lastly bursting by way of the billion-dollar threshold in 2022.
Latin music’s $886 million in retail revenues in 2021 meant that it claimed a market share of 5.91% when it comes to the general US recorded music trade, in line with MBW calculations.
(See under; our calculations are based mostly on knowledge in each the RIAA‘s year-end Latin report, and within the org’s year-end wider US trade report.)
The 5.91% US market share achieved by Latin music in 2021 was better than that the class achieved in each 2020 (5.39%) and in 2019 (4.96%).
Certainly, if we return 5 years to 2017, Latin music claimed a mere 3.97% of a (then a lot smaller) US recorded music market, in line with MBW’s studying of RIAA knowledge.
streaming codecs
Pushed by superstars like Dangerous Bunny, Becky G, and Anitta, streaming revenues from Latin Music within the US totalled $857 million in 2021, in line with the RIAA – making up 97% of whole Latin revenues.
This $857 million determine, which was up 36% YoY, contains all sorts of streaming earnings, together with:
- Promoting on each interactive and non-interactive platforms
- Premium subscription platforms, in addition to ‘restricted tier’ paid-for platforms
- Each video (YouTube and many others.) and audio (Spotify and many others.) platforms.
Throughout these streaming platform sorts, RIAA knowledge analyzed by MBW exhibits that Latin music achieved a 6.89% US streaming market share final 12 months (see under).
In different phrases, of each greenback generated by the US streaming document trade final 12 months, round one in each 14 was generated by Latin music.
That 2021 streaming market share (6.89%) was better than Latin’s equal US market share in each 2020 (6.27%) and in 2019 (5.93%).
Paid music subscriptions
Drilling down deeper, paid music streaming subscriptions continued to be the largest driver of Latin music income progress final 12 months.
Latin Music’s revenues from paid subscriptions grew 35.0% to $593 million in 2021, in line with the newest RIAA numbers. Paid-for streaming customers subsequently accounted for greater than two-thirds of all US Latin music revenues in 2021.
This cash was generated by each full ‘Premium’ subscriptions (to Spotify Premium, Apple Music and many others.) and ‘restricted tier’ subscriptions to restricted-catalog companies (pad-for platforms with interactivity limitations by availability, gadget restriction, catalog limitations, on demand entry, or different components).
MBW’s calculations of the RIAA knowledge reveal that Latin music claimed a 6.25% market share of all income generated on paid subscription companies (together with ‘restricted tier’) within the US in 2021.
That was up on 5.68% in 2020, and up on 5.06% in 2019 (see under).
Advert-supported, on-demand streaming platforms
Lastly, let’s check out a long-time stronghold for Latin music within the US: ad-supported, on-demand streaming platforms – together with YouTube and Spotify’s free tier.
Throughout the sort of streaming platform, Latin music generated $187 million within the US in 2021, up 46.1% year-on-year.
In accordance with MBW’s evaluation of RIAA figures, this meant that Latin music accounted for 10.62% of all income generated by such platforms within the States final 12 months.
That 10.62% market share was barely down on the 10.67% market share achieved in 2020, however it’s a must to bear in mind the large normal progress in ad-funded income for the US document trade final 12 months.
The general quantity of income generated by the US recording trade on interactive ad-funded platforms final 12 months stood at $1.76 billion, up by greater than $550 million year-on-year.
Discussing the numbers within the newest RIAA year-end Latin report, Michèle Ballantyne, COO, RIAA, mentioned: “Latin music continues to rise – powering the general music market and reporting its highest income determine in historical past final 12 months at $886 million.
“With progress of 35% – far surpassing the general progress fee for recorded music revenues – Latin music is connecting with followers in a historic manner.
“Latin music continues to rise – powering the general music market and reporting its highest income determine in historical past final 12 months at $886 million.”
Michèle Ballantyne, RIAA
“In a 12 months when Dangerous Bunny was probably the most streamed artist on this planet, stars like Becky G and Anitta pumped out chart topping hit after chart topping hit, and audiences joyfully flocked to Latin-powered stadium and area exhibits as reside efficiency ramped again up, Latin label groups and artists proceed hovering to new heights.
“RIAA is proud to have a good time the cultural energy and inventive and business success of Latin music mirrored on this report – and salutes the extremely proficient artists and label groups that gave us a lot in 2021.”Music Enterprise Worldwide
