US Latin Music Revenue Hits Record $1.4 Billion in 2023

Driven by streaming services and new artist success, Latin music's market share in the US music industry reaches 7.9%.

Latin music revenue in the US grew by 16% in 2023, reaching a new high of $1.4 billion.
Streaming platforms accounted for 98% of the Latin music revenue, with paid subscriptions being the largest contributor.
Karol G and Peso Pluma significantly influenced the market, with historic achievements on the Billboard 200.
Ad-supported streams and physical formats like vinyl also played key roles in revenue generation.
The growth of Latin music is attributed to its increasing popularity and the availability of music through various digital platforms.