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New York, NY (Top40 Charts) U.S. Latin music revenues increased 15% to a record high of $627 million. Streaming continued to drive an overwhelming portion of the growth, accounting for 98% of revenues. Latin music’s share of overall U.S. recorded music revenues grew from 7.1% in first half 2022 to a new pinnacle of 7.5% in first half 2023. (Please note RIAA Latin music reports now include revenues from social media platforms such as Facebook, TikTok, and YouTube Shorts. Data for 2022 is revised to include these sources, in addition to other revisions).
Paid subscriptions comprised more than two-thirds of total Latin music revenues, and grew faster than ad-supported streaming formats at 23% year-over-year to $431 million.
The average number of paid subscriptions in 1H 2023 reached a record 96 million (though that figure is across all genres and not specific to Latin music).
Ad-supported on-demand music streaming revenues (from services like YouTube, the free version of Spotify, and social media platforms) continued to make up a larger percentage of revenues for Latin music (23%) than for U.S. recorded music overall (10%). However, ad-supported revenues of $148 million were virtually flat year-over-year, reflecting broader economic challenges in the advertising market.
Revenues from digital and customized radio services (such as Pandora, SiriusXM, and internet radio services) grew 13% to $36 million – rebounding from a 5% decrease in 2022 – and making up 6% of total Latin music revenues.
Permanent downloads fell 21% from the same period last year to $4.8 million, dropping to less than 1% of total revenue. After growing in 2022, physical formats also totaled less 1% at $4.7 million, resulting in a 37% decline in first half 2023.
// global variables
var Top40FullName=””;
var Top40FBid=”;
var Top40userid=”;
/*
// This is called with the results from from FB.getLoginStatus().
function statusChangeCallback(response) {
console.log(‘statusChangeCallback’);
console.log(response);
// The response object is returned with a status field that lets the
// app know the current login status of the person.
// Full docs on the response object can be found in the documentation
// for FB.getLoginStatus().
if (response.status === ‘connected’) {
// Logged into your app and Facebook.
fb_login_check();
} else {
// The person is not logged into your app or we are unable to tell.
document.getElementById(‘top40-login-status’).innerHTML = ‘Please log ‘ +
‘into this app.’;
}
}
function checkLoginState() {
FB.getLoginStatus(function(response) {
statusChangeCallback(response);
});
}
window.fbAsyncInit = function() {
FB.init({
appId : ‘160329538558’,
cookie : true, // enable cookies to allow the server to access the session
xfbml : true, // parse social plugins on this page
version : ‘v2.8’ // use graph api version 2.8
});
FB.getLoginStatus(function(response) {
statusChangeCallback(response);
});
};
// Load the SDK asynchronously
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “https://connect.facebook.net/en_US/sdk.js”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
// Here we run a very simple test of the Graph API after login is
// successful. See statusChangeCallback() for when this call is made.
function fb_login_check() {
console.log(‘Welcome! Fetching your information…. ‘);
FB.api(‘/me’, function(response) {
console.log(‘Successful login for: ‘ + response.name);
console.log(response);
Top40FullName=response.name;
Top40FBid=response.id;
Top40userid=’fb_’+response.id;
var metadata = {
user_id: Top40userid
};
Intercom(‘trackEvent’, ‘FB-login’, metadata);
document.getElementById(‘top40-login-status’).innerHTML =
‘Thanks for logging in, ‘ + response.name + ‘!’;
$(‘#top40-login-button’).css(‘display’,’none’);
});
}
*/
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Armessa Music News