In Latin music, within the streaming category, the biggest driver of growth was paid subscriptions, with revenue rising from $342.2 million in 2019 to $439 million in 2020, a 28.3% bump. Paid subscriptions now make up 20% of Latin music revenues.
In comparison, revenue growth for on-demand or ad-supported streaming rose 6.2%, from $120.8 million in 2019 to $128.3 million in 2020, making up 20% of total revenues (compared to 12% of revenues of the market as a whole).
The huge growth of paid subscription revenue within Latin music is a key factor to the sector’s health as a whole. In the early days of streaming, most Latin consumption was on-demand, which impacted total revenue despite the volume. Now, Latin music fans are increasingly turning to subscription models to consume their music.