Latin Music Revenue in the U.S. Grew in 2020, Up 20 Percent in Streaming
Despite the COVID-19 pandemic that grips the globe, Latin music in the U.S. saw a 20 percent rise in streaming revenue in 2020. The genre posted a fifth consecutive year of overall revenue growth last year, according to the RIAA on Wednesday.
Latin music posted its best revenue in the U.S. since 2005.
The RIAA (Recording Industry Association of America) released the 2020 year-end report on Latin music.
“Latin music continues to ‘punch above its weight’ – posting its fifth straight year of growth amidst the challenges and disruptions of the COVID economy,” wrote RIAA COO Michele Ballantyne in an annual revenue report.
After accounting for 5 percent of overall music revenue in the U.S. in 2019, that percentage rose to 5.4 percent last year. Latin music is heavily consumed on streaming and video platforms. Revenue for the genre is at its highest since 2005, the era when reggaeton music first broke through thanks to Puerto Rican acts like Daddy Yankee, Ivy Queen, and Tego Caulderón.
Bad Bunny had the highest-certified Latin music single of 2020.
Over a decade later, and it’s still reggaeton and Boricua artists that are leading the pack of Latin music stars. According to the RIAA, Bad Bunny’s “Yo Perreo Sola” was the highest-certified Latin music single of 2020. The hit song from his Grammy and Latin Grammy-winning YHLQMDLG album was certified 24-times Diamante. The RIAA is responsible for certifying albums and singles as platinum and gold. Latin music accounted for 15 percent of the certifications in 2020.
The news about Bad Bunny shouldn’t be a surprise as Spotify revealed last year that he was the most-streamed artist globally on the platform. He was followed by Canadian superstar Drake and Colombian reggaeton singer J Balvin.
The RIAA credits Latin music’s 20 percent streaming growth in 2020 to the fans who are turning to paid streaming subscriptions. YouTube is another major platform where Latin music is consumed. Billboard reported that 30 percent of the top 100 music videos of 2020 were from Latin music artists.
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