Streaming music now represents 91% of the Latin music market, active a 15% acceleration in absolute revenues back January. “The Latin music bazaar connected its arresting transformation in the aboriginal bisected of 2018,” Recording Industry of America President Mitch Glazier says in the new RIAA Mid-Year 2018 Latin Music Revenue report. “Latin music has become a common phenomenon, apprenticed by a assorted alive bazaar and Latin labels authoritative acute investments to abutment their artists’ all-around ambitions.”
Paid subscriptions to Spotify, Apple Music, Amazon Unlimited and added casework grew 70% to $72 million, absolute 59% of the absolute Latin alive bazaar value.
On appeal ad-supported streams on YouTube, Spotify’s chargeless adaptation and agnate casework brought in $26 million, up 30% from a year ago. Those numbers were college than those of the all-embracing U.S. market. Conversely, revenues from SoundExchange distributions and royalties from agnate absolute licensing casework were bottomward 28% to $25 million, but still contributed 20% of Latin agreeable revenues.
“The activity and action about Latin music is afresh palpable,” Glazier assured in the report.
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