The RIAA found that in 2017, U.S. revenue from Latin music increased 37% to $243 million. The genre holds a 2.8% share by value of the American music market. Streaming revenue grew 54% to $204 million, a record-high that secured an 84% share of the genre's total results. Paid streaming subscriptions contributed nearly half of the Latin music revenue, increasing 83% on-year.
Latin music followed the overall U.S. market trends, with physical shipment sales down 43% to $12 million. The genre did buck the declining download trend. Single track downloads increased 16%, likely spurred by crossover hits such as "Despacito," which has continued to smash records into 2018. Digital album downloads dropped 20%.
"2017 was the year that Latin music filled our playlists and dominated the airwaves like never before," RIAA Chairman and CEO Cary Sherman said. "More than any other genre, the growth in streaming is powering Latin music's resurgence. That's a welcome development for a community that has endured an especially challenging decade. Streaming is helping break down walls between countries and continents, all while record companies invest in the critical teams and resources to help support an artist's global ambition. It's no accident when a song tops a global playlist, it's the result of a dedicated team of professionals working to expand an artist's audience."