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U.S. Latin Music Revenue Soars In First Half Of 2017
It's a great time for Latin artists in the U.S. music market, according to the RIAA's 2017 Mid-Year Latin Music Revenue Statistics report.
Considering the strength of popular crossover hits such as Enrique Iglesias' "Duele El Corazón" featuring Wisin or Luis Fonsi and Daddy Yankee's "Despacito," which became the most-watched video of all time on YouTube with more than 4 billion views, this news shouldn't be surprising. In 2016 the Latin music market made its first revenue increases in more than a decade, and that growth continues into 2017.
The RIAA reports that Latin music is up 44 percent so far in 2017 compared to the same time period in 2016, with revenue reaching $115 million. Notably, 82 percent of revenue was derived from streaming, representing a 56 percent increase from 2016. Overall, Latin music made up 2.9 percent of the total $4 billion U.S. music market in the first half of 2017.