In the past years, Latin music has transcended borders, reshaping the global music industry. What was once considered a niche market has now become a cultural powerhouse, with Latin artists headlining major festivals, dominating streaming platforms, and driving record-breaking revenue. Data from Luminate underscores this explosive growth, highlighting Latin music’s increasing share of total music industry revenue.
Latin Music’s Industry Boom
A Recording Industry Association of America (RIAA) report highlights that the U.S. Latin music industry “continued to grow at a faster rate than the overall market.” In 2023, Latin music revenue exceeded $1.1 billion, marking a 15% increase from the previous year. This upward trajectory is driven largely by streaming, with Latin music now accounting for nearly 10% of the U.S. market share, according to Luminate’s 2024 mid-year data.
2024 was a major year for emerging Latin artists. According to Rolling Stone, rising talents like Chile’s FloyyMenor got into the Billboard Hot 100 with the viral hit Gata Only, setting a precedent for other up-and-coming Latin acts. Additionally, Nathy Peluso and Young Miko reached new peaks with highly anticipated albums that resonated with diverse audiences.
Michelle Rivera, a creative director and marketing professional who has worked with Latin artists, labels, publishing, and music festivals, attributes this growth to social media, streaming platforms, and migration trends. When asked about the biggest driver behind Latin music’s global rise, Rivera explains:
“I believe the growth of Latin music in recent years is due to the democratization and access to becoming a global artist. Social media and streaming platforms are a big part of this democratization. The waves of Latin American migration to countries around the world due to the social conditions in their countries of origin have also pushed artists to globalize.”
The Internet and collaborations between Anglo and Latin artists boost the growth of both parts. Strategic partnerships, such as Drake with Bad Bunny and Selena Gomez with Rauw Alejandro, have exposed Latin music to broader audiences, accelerating its mainstream appeal.
Latin Artists at Major Festivals
The rise of Latin music is also reflected in its growing presence at major festivals. Latin artists are now securing top slots at Coachella, Lollapalooza, and Primavera Sound. Billboard Latin data shows that Latin performers at Coachella have steadily increased, reaching 16 acts in 2024, including stars like Karol G and Peso Pluma.
As reported by Los Angeles Times, Bad Bunny’s 2023 Coachella performance was monumental, making him “the first artist from Latin America and the first Spanish-language artist to headline the festival.” His record-breaking album, Un Verano Sin Ti, helped fuel his global stadium tour, which became the highest-grossing tour by a Latinx artist in history. Billboard Latin data shows that Latin performers at Coachella have steadily increased, reaching 16 acts in 2024, including stars like Karol G and Peso Pluma.
Latin artists’ presence at global festivals amplifies their reach and highlights the genre’s mainstream crossover appeal. Speaking to Rolling Stone, industry experts credit social media and streaming platforms for making Latin music more accessible to global audiences.
The Regional Mexican Surge
One of the most remarkable shifts in Latin music has been the rise of Regional Mexican music. Traditionally popular in Mexico and U.S. Latino communities, this genre has now broken into the mainstream. Luminate’s 2024 mid-year data reveals that Regional Mexican music saw the highest percentage growth in Latin subgenres, fueled by artists like Peso Pluma, Fuerza Regida, and Natanael Cano.
As Latin music continues to evolve, its influence on the global stage shows no signs of slowing down. With record-breaking streaming numbers, increased festival representation, and an expanding fan base, Latin music is not just a trend — it’s a dominant force shaping the future of the industry.
