Latin Music Is the Fastest-Growing Genre Streaming in the U.S.
And FloyyMenor is right at the top according to Luminate Midyear Report 2024
According to Luminate Midyear Music Report 2024, Latin music saw a significant increase in its share of U.S. On-Demand Audio (ODA) streaming, growing by 0.51 percentage points in the first half of 2024 compared to the same period last year. The genre experienced a 15.1% growth in ODA streaming. One of the artists on my partner roster at UnitedMasters, FloyyMenor, from Chile, is highlighted for his collaboration with Cris Mj on the song "Gata Only," which ranked 5th globally in overall On-Demand Audio streaming volume, achieving 0.982 billion streams independently. As stated by Rolling Stone, So far this year, FloyyMenor and Cris Mj's song "Gata Only" out-streamed songs by Sabrina Carpenter and Ariana Grande. We partnered with Floyymenor late 2023, and it has been incredible to be a part of his ascension story.
These insights reflect the robust growth and evolving consumption patterns in Latin music, as well as the significant impact of artists like FloyyMenor in the global music landscape. Language barriers are falling at the speed that genres are bending with the help of social platforms like TikTok.
My prediction: We’ll soon be seeing more english speaking artists collaborating with latin artists and latin music will start to cross radio formats. A month ago, Nigerian Artist whose lyrics are a mixture of English, Nigerian Pidgin English and Yoruba collaborated with Rauw Alejandro, for a song called “Santa”. Santa has nearly 60M streams in the US and over 22 Million Airplay Audience which shows that it’s trending in that direction.
Here are a few other trends that I found insightful.
Current Music Preference:
Latin music streaming leans heavily towards current releases, with 35% of Latin genre streaming coming from tracks that are 0-18 months old. This is the highest percentage of current music consumption compared to other core genres like rock and R&B/Hip-Hop. While we are seeing a resurgence of catalog tracks for our Rap acts, it’s not the same for our Latin artist catalog.
Physical Music Purchasing:
Latin music fans are significantly more likely to purchase physical music. Specifically, Latin fans who are paid music streamers are 32% more likely to purchase CDs in the future compared to other paid music streamers. Furthermore, Latin music fans with children in the household are 55% more likely to cite sustainability/reusability as a cause they care about, compared to the average U.S. music listener.