Driven by Bad Bunny, Anitta and Others, U.S. Latin Music Revenue Soars 35%

variety.com:

Thania Garcia U.S. Latin music revenue soared in 2021, with a huge 35% increase to $886 million — the highest figure in history, before adjusting for inflation — according to a new RIAA report issued Tuesday.

The number far surpassed the overall growth rate for recorded music revenues, which were up a strong 22%, per the RIAA’s year-end report issued last month.“In a year when Bad Bunny was the most-streamed artist in the world, stars like Becky G and Anitta pumped out chart topping hit after chart topping hit, and audiences joyfully flocked to Latin-powered stadium and arena shows as live performance ramped back up, Latin label teams and artists continue soaring to new heights,” said RIAA COO Michele Ballantyne.

See the full report here. Streaming accounted for a whopping 97% ($857 million) of those revenues, with paid music subscriptions continuing to be the main driver of Latin music revenue growth, increasing 35% to $593 million, accounting for more than two-thirds of all U.S.

Latin music revenues in 2021.Ad-supported on-demand streams (from services like YouTube, Vevo, and the free version of Spotify) grew 46% compared to the prior year, to $187 million.