Latin music in the United States is booming, hitting a record $1.4 billion in revenue in 2024, according to the Recording Industry Association of America (RIAA). This represents an 18% increase compared to the previous peak in 2005 and marks the third consecutive year with revenues exceeding $1 billion.
Streaming platforms are the primary engine of this growth, accounting for 98% of the total revenue. Paid subscriptions contributed over two-thirds of the total, growing by 6% to reach $967 million. Ad-supported platforms like YouTube and Spotify generated $354 million.
Physical formats also experienced a resurgence, nearly doubling from $8.5 million to $16.6 million, fueled by renewed interest in vinyl records.