Bad Bunny accepts an award for garnering one billion Spotify streams with ‘Tití Me Preguntó.’ Photo Credit: Spotify
Latin music releases racked up 57.9 billion on-demand streams in the United States during the first 34 weeks of 2023, for a close to 22.2 percent year-over-year (YoY) increase, according to a new report.
These and several other noteworthy data points came to light in a just-published Latin music consumption study from Luminate. Focusing specifically on the stateside market, as mentioned, the resource shows that Latin was through the initial 34 weeks of 2023 the fifth “largest major genre in the US,” topping dance/electronic by stream volume but ranking behind country.
Moreover, 40 percent of U.S.-based listeners consume music in languages besides English, according to the document. Interestingly, notwithstanding the much-discussed prominence of K-pop, 26 percent of listeners access music in Spanish, against eight percent for Japanese, eight percent for French, and seven percent for Korean, per the report, which seems to factor for some overlap among fans’ multi-language listening habits.
Bearing in mind the points, Spanish-language releases’ share of listening in the top-10,000 on-demand tracks (by streaming volume) in the United States grew by about 2.14 percent YoY during 2023’s first 34 weeks to approach eight percent, per the analysis. Across the identical stretch, English-language releases’ share of the same works fell by roughly 2.7 percent, the report shows.
Meanwhile, domestic Latin superfans spend about 30 percent more per month on live event tickets, merch, streaming, and physical releases than other superfans, the breakdown indicates. 58 percent of Latin superfans reported dropping over half their monthly music spending on concerts and festivals – with two-thirds of the individuals expecting to attend a live show during the next 12 months, according to the study results.
Finally, in terms of noteworthy takeaways, 73 percent of “Hispanic Listeners…use Whatsapp, which is 265% more than the General Population,” the text outlines, whereas 31 percent of “Non-Hispanic Listeners…use Whatsapp, which is 55% more than the General Population.” Late last month, Bad Bunny announced a single via the Meta-owned platform.
Of course, different reports have also disclosed data in support of Latin music’s continued stateside growth. According to the RIAA, for instance, the genre generated $627 million in recorded revenues during H1 2023, for a 15 percent YoY boost.
98 percent of the sum derived from streaming, according to the trade organization, and given the hike, Latin music appears poised to top the $1.1 billion in U.S. recorded revenue that it reportedly brought in during all of 2022.
In August, the NFL expanded its agreements with Latino media companies Ntertain Studios and Neon16, and more than a few music businesses are working to enhance their presence in quick-developing markets throughout Latin America itself.
