Inside Entertainment: Quick Take 2022 Issue 5

Latin Music Sets Records

Brand Opportunities Grow For Consumer Engagement

ben digital issue

F or brands looking to meet audiences where they are, Latin music is at an historic inflection point that signals an ongoing and compelling opportunity. Empowering Latin artists and connecting with the ever-expanding audience who follows them is a surefire way for brands to engage with one of the fastest growing segments in the world of entertainment. Simply put, for marketers who wish to reach and impact Latin and Hispanic audiences, a music content strategy is an absolute must. Vevo – the YouTube-hosted platform for music videos – is a Top-5 Hispanic network, ranking among the likes of Univision and Telemundo. 40% of Latin audiences discover music through YouTube and 50% of Millennial Latin audiences will try a brand that sponsors artists. (VEVO) The opportunity is clear. Engaging Latin and Hispanic audiences through branded music content needs to be an essential part of every brand’s marketing strategy.

REACH CONSUMERS WHERE THEY ARE

40%

of Latin audiences discover music through YouTube

50%

of millennial Latin audiences will try a brand that sponsors artists
Source: VEVO

The continued rise and cross-cultural appeal of Latin music in the U.S. resulted in a record setting 2021 for the genre and its many sub-genres. Latin videos regularly commanded the largest share of video views and, to that end, Latin artists comprised half of the top 10 videos released in the year. From those 5 videos, a total of over 2 billion views have been racked-up so far with that number continuing to grow.

Likewise, the RIAA found that Latin music revenue grew to a record $886M in 2021, a year-over-year growth rate of 35%, which far surpassed the overall growth for recording industry revenue. (RIAA) The top streaming artist of 2021 in any genre was Bad Bunny, and since the November 2021 release of Disney’s Encanto, the global soundtrack hit “We Don’t Talk About Bruno” has been inescapable.

Given the rapid expansion and cross-cultural adoption of Latin music last year, the stage is set for $1B+ in Latin music revenue in 2022. After rising by 28.5% in 2019 and another 19.6% in 2020, revenues in the Latin music space would need only rise an additional 12.9% this year to reach that incredible sum. (RIAA) This growth is all but assured with the general market’s appetite for music video content. 64% of viewers find them ‘highly culturally relevant,’ outpacing any other content type including sports and news. What’s more, Latin music videos have attracted the attention of the great majority of general market consumers. 53% of Latin music listeners are Caucasian/White, 57% are ages 18-44 and 57% are women meaning that no matter a brand’s core demographic, the genre will deliver results.

Branded music content is an essential part of every marketer’s game plan. For those looking to engage Latin, Hispanic and general audiences, there has never been a better or bigger opportunity to align with Latin artists. At BEN we work across all genres of music to ensure the success of your campaign in reaching and expanding your core consumer as they connect with the content that speaks to them most.

— Jake Terrell
BEN Vice President, Music & Brand Partnerships

U.S. GROWTH OF LATIN MUSIC

RECORD SETTING 2021

5 OF TOP 10

Music Videos

+35%

in Revenue
MORE TO COME IN 2022

$1B+

Revenue Projected
Sources: VEVO, Recording Industry Association of America

LATIN MUSIC GAINS WIDESPREAD POPULARITY

U.S. AUDIENCE COMPOSITION

53%

Caucasian/White

57%

Age 18-44

57%

Female

43%

Male

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