For all the streaming glory benefiting Latin music with global hits such as “Despacito,” it’s the lackluster payouts from on-demand services such as YouTube that should serve as a call to action, according to Cary Sherman, RIAA’s chairman and CEO.
Sherman’s appeal comes in the latest RIAA mid-year report, which shows that U.S. Latin Music revenues in the first half of 2017 grew by 44% ($115 million), from the previous year.
But even the power of streaming accounting for the majority of Latin music’s revenue rise at 82% doesn’t satisfy the monetary disbursements. Artists and labels, according to the RIAA report, cleared $20 million from free on-demand services such as YouTube. Latin music revenues made up 2.9% of the total U.S. recorded music market totaling $4 billion in the first half of 2017.