Karol G, Peso Pluma Propel US Latin Music Revenue To New Heights, Reaches $1.4B
Portfolio Pulse from Franca Quarneti
Latin music revenue in the U.S. reached a new high of $1.4 billion in 2023, a 16% increase from the previous year, with significant contributions from streaming platforms and artists like Karol G and Peso Pluma. Alphabet Inc's YouTube and Universal Music Group's Vevo were highlighted as key platforms in this growth.
April 23, 2024 | 10:23 pm
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Alphabet Inc's YouTube significantly contributed to the growth of Latin music revenue in the U.S., which reached $1.4 billion in 2023.
Given YouTube's role in contributing to nearly a quarter of the Latin market's total value, Alphabet Inc is likely to see positive sentiment and potential revenue growth from this sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Universal Music Group's Vevo also played a significant role in the growth of Latin music revenue in the U.S., which saw a 16% increase from the previous year.
Universal Music Group's Vevo, as a key platform for Latin music, suggests a positive impact on UMGNF's market positioning and potential revenue from this growing sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80