WASHINGTON D.C. (CelebrityAccess) — The Recording Industry Association of America (RIAA) announced that U.S. revenues from the Latin music sector reached a record high of $1.4 billion in 2024, an 18% increase over the previous record set in 2005.
Additionally, the results mark the third consecutive year that the sector has generated more than $1 billion in revenue and outpaced the overall recorded music revenue growth in the U.S., rising by 5.8% year over year.
Streaming proved to be a key driver of this revenue growth, accounting for 98% of total revenues in 2024. Paid subscriptions topped 100 million for the first time and accounted for two-thirds of total U.S. revenues, increasing by 6% to $967 million and growing faster than any other streaming format, according to the RIAA.
Despite the dominance of streaming, physical product sales for Latin music expanded in 2024, growing by 35% from 2022. However, physical formats still accounted for just 1% of the sector’s total revenue in 2024.
Overall, Latin music accounted for 8% of the total recorded music revenue in the U.S. in 2024.
“I’m heartened by the continued explosive popularity of Latin music across the U.S. as artists and labels forge new ways to connect with fans. With streaming delivering 98% of Latin revenues, we can see how the Latin music community’s embrace of innovation allows traditional stars and new generations to reach fans like never before—breaking language and access barriers to more boldly shape America’s music future every year,” stated RIAA Senior Vice President of State Public Policy & Latin Music, Rafael Fernandez Jr.
