By Claire Moraa
- The Latin community is racking big streaming numbers with the 2nd most viewed video amassing over 8 billion views on YouTube
- Latin music is an essential aspect of the Hispanic community’s cultural identity and a powerful expression of its ancestral roots, customs, and traditions
The popularity of Latin music worldwide has helped highlight the beauty and richness of the Hispanic community’s culture. It has influenced the rise of other Latin songs and artists, facilitating the growth of the genre on an international scale which has managed to surpass the $1 billion revenue mark with the upward trajectory expected to continue.
Why This Matters: The growth of Latin music has boosted the music industry’s revenue streams and created economic opportunities for artists, producers, and other industry professionals. Its overall market share of 7.9% is relatively small compared to other genres but its 986% increase in listeners in the last decade has transcended expectations if the top-performing Latin songs are anything to go by. Currently, Despacito is the second most viewed video on YouTube after being recently dethroned from the number one spot.
What’s intriguing is that Latin music’s increasing popularity is not confined to Spanish-speaking regions. Collaborations between Latin artists and musicians from other parts of the world have contributed to a broader international appeal. All this has been made possible with the rise of streaming services and digital platforms. However, we cannot forget the Latin superfans who are the driving force behind the huge success and growth of Latin music. Their passion, dedication, and support have been instrumental in creating a ripple effect and propelling Latin music to new heights.
Situational Awareness: The future of Latin music looks promising, with a continued upward trajectory in success, revenue, and cultural influence. But it’s not just the Latin community that will benefit from this. As Latin music embraces new collaborations and explores innovative strategies, it will also amplify diverse voices leading to increased representation and inclusion. It will continue to redefine the music industry and captivate audiences worldwide.