In a groundbreaking revelation unveiled during Billboard Latin Music Week, Luminate's latest research sheds light on the exponential growth of Latin music in the U.S. Driven by the fervent support of Latin super fans and the rise of regional Mexican music, Latin music consumption is growing nearly twice as fast as the overall music industry. Additionally, an unexpected discovery platform for Latin music, WhatsApp, is dominating with a massive 73% usage among Hispanic listeners, far surpassing the general population's usage. Let's delve deeper into these fascinating findings.
Latin Music Super Fans: The Driving Force Behind Double-Digit Growth
Discover the crucial role of Latin music super fans in fueling the double-digit growth of the Latin music industry.
In Luminate's groundbreaking research, Latin music super fans emerge as the key drivers behind the exponential growth of the Latin music industry. These passionate fans go above and beyond in their dedication, spending 120% more per month on music-related activities compared to other fans. Additionally, they surpass their U.S. counterparts by 30% in their spending. This level of commitment fuels the remarkable growth and success of the Latino music scene.
Breaking Down the Numbers
According to Luminate's data, Latin music consumption is growing at an astonishing rate, almost twice as fast as the overall music industry. In the first 34 weeks of 2022, there were 47.4 billion on-demand audio streams. Fast forward to the first 34 weeks of 2023, and that number soared to 57.9 billion streams, representing a remarkable 22.2% increase. In terms of genre ranking, Latin music has secured its place as the 5th largest music genre in the United States, trailing only behind R&B and Hip-Hop, pop, rock, and country.
The Power of Regional Mexican Music
Explore how regional Mexican music has contributed significantly to the exponential growth of Latin music consumption.
Another driving force behind the growth is the immense popularity of regional Mexican music. Luminate's research uncovered this surprising trend, which has captured the hearts of music lovers across the country. With its captivating rhythms and compelling storytelling, regional Mexican music has left a lasting impact on Latin music consumption.
The Impact of WhatsApp as a Discovery Platform
A noteworthy trend revealed in Luminate's research is the pivotal role of WhatsApp in discovering Latin music. A staggering 73% of Hispanic listeners utilize WhatsApp, a striking 265% higher than the general population. Through WhatsApp, fans can easily share music, recommendations, and connect with fellow enthusiasts, creating a dynamic and engaged fan community that drives Latin music consumption.
Latin Music Spreading Beyond Latin Pockets
Witness the immense growth of Latin music in non-Latin pockets and the increasing demand for music in languages other than English.
Latin music consumption is not limited to Latin pockets but is also rising among non-Latin audiences. Luminate's research indicated that a staggering 40% of all U.S. listeners reported listening to music in languages other than English. Out of these languages, Spanish emerged as the second most listened-to language, indicating the widespread appeal and influence of Latin music across diverse demographics.
The Influence of Spanish-Language Streaming
While English continues to dominate the streaming landscape in the U.S., there has been a notable increase in streaming of Spanish language tracks. The top 10,000 most streamed tracks of the past 12 months saw a 3.5% growth in Spanish-language streaming, while English language streaming experienced a slight dip of 4%. This trend signifies the growing acceptance and demand for multicultural content, further driving the growth of Latin music.
Latin Music: A Fast-Growing Revenue Generator
Discover how the exceptional growth of Latin music has translated into substantial revenue generation.
The exponential growth seen in Latin music has not only surpassed expectations but has also translated into substantial revenue for the industry. What started as a surge in streaming numbers has now convincingly manifested into revenue-boosting growth. The dedication and support from Latin super fans, along with a wider audience embracing multicultural music, have contributed to a thriving Latin music market in 2023.
Conclusion
In conclusion, the latest research by Luminate has uncovered the impressive growth of Latin music in the U.S. Driven by passionate Latin super fans and the rising popularity of regional Mexican music, Latin music consumption is flourishing at a rate almost twice as fast as the overall music industry. The dedicated support of Latin super fans, coupled with the embrace of multicultural music across diverse audiences, has transformed Latin music into a major player in the U.S. music scene.
FQA
Why are Latin super fans important to the growth of the Latin music industry?
Latin super fans play a vital role in fueling the exponential growth of the Latin music industry. These dedicated fans invest more in music-related activities compared to other fans, providing crucial financial support. Their passion and enthusiasm, combined with the power of social media and word-of-mouth recommendations, contribute to the success and visibility of Latin artists and their music.
How does regional Mexican music contribute to the growth of Latin music consumption?
Regional Mexican music has become a significant driver of Latin music consumption. The genre's compelling storytelling, captivating rhythms, and emotionally resonant lyrics have captured the hearts of music lovers across the country. As regional Mexican music continues to gain popularity and recognition, it amplifies the overall appeal and success of Latin music both within Latin communities and beyond.
What is the impact of streaming music in languages other than English?
The rise of streaming music in languages other than English, especially Spanish, reflects the increasing demand for multicultural content. While English-language streaming remains dominant, there has been a notable growth in streaming of Spanish-language tracks. This trend highlights the growing acceptance and appreciation for diverse musical expressions, contributing to the sustained growth and influence of Latin music in the streaming landscape.
