July 25, 2024

The Catholic Transcript

Complete News World

USA: Latin Music Grows 37% to R $ 2 Billion in 1st Semester

USA: Latin Music Grows 37% to R $ 2 Billion in 1st Semester

Recipe Latin music To us United States Grew by 37% And achieve US $ 407 million (approximately R $ 2.2 billion) In the first half of 2021, following its recovery, RsReport issued by RIAA. Latin concert Overall American music revenue surpassed growth, Which grew in participation 5.8%. As for streaming format recipes, Grew by 37% Compared to the previous year, and $ 393 million Representation 96% of total revenue.

USA: Latin Music Grows 37% to R $ 2 Billion in 1st Semester Photo: RIAA

As Fee subscriptions The streaming music was constant Latin music are the biggest drivers of revenue growth. Subscription revenue increased 41%, Reaches $ 279 million And more than 2/3 of all American Latin music revenue in the first half of 2021.

The number of paid subscriptions reached a record 82 millionAlthough this number is not specific to Latin music. From on-demand streams-like services with ad support Web light, Wow And the free version Spotify – have grown 30% Compared to the first half of the previous year $ 77 million.

read more:

Positive results for streaming lead to strong growth of this category, which was significantly affected in 2020 due to declining advertising due to Govt-19. Compared to the overall American music revenue, this type of advertising plays a significant role 19% of the total do Latin music cooking, vs 11% Generally.

Growth has also returned to revenue from digital and personalized radio services Pandora, SiriusXM And services Internet radio – Who grew up 24% For $ 37 million In this first semester, after a slight fall in 2020.

USA: Latin Music Grows 37% to R $ 2 Billion in 1st Semester
USA: Powered by subscriptions on Latin music streaming sites. Photo: RIAA

Although they represent only 1% of Latin music revenue, Body shapes were restored in the first half of 2021, After significant challenges in body sales provided by last year’s Govt-19 related stops. Revenue from Body shape increased by 77% For $ 2.7 million, Driven by an increase in both CDs (up to 121%) e Vinyl LP (up to 31%).

See also  Salvadoran tourists enter Honduras and enjoy Fistas Acostinas

Latin music downloads are down slightly, 2% down $ 7 million in the previous year. RIAA data for American Latin music includes key labels and ratings for Latin independent music distribution, see full report Accessing here.