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The Importance of the Latin Music Entertainment Market (part 2)

September 29, 2013

by Peggy Dold

The Importance of the Latin Music Entertainment Market - PART 2
{Why it is crucial to connect the dots between the consumer, music discovery, music consumption, and copyright monetization}

Continued from Part 1, please find further information about the U.S. Hispanic market:

U.S. Hispanics Over-Index Other Demographics in most Social Media, Entertainment,  & Mobile Usage:

According to The Media Audit:

•    32.7% of all U.S. Hispanics in the top 10 markets have logged on to an Internet radio Website.
     o    28.7% use Pandora
     o    8.4% use iHeart Radio

Pew Hispanic Center research shows:

•    Latino social networking penetration among Internet users has reached 68%:
     o    34% English
     o    25% Spanish
     o    40% Bilingual
     o    54% Native born
     o    46% Foreign born

•    Hispanics use Twitter at 18% vs. whites at 5% and blacks at 13%.
Nielsen 2012 data shows: 
•    Hispanics spend 68% more time watching video on the Internet and 20% more time watching video on their mobile phones than non-Hispanic whites

•    According to Nielsen’s U.S. Consumer Entertainment Report, Hispanics are 28% more likely (than the average U.S. consumer) to buy streaming services and 5% more likely to buy digital music.

U.S. Hispanic Cell-Phone Ownership

A Pew Hispanic Center study (“Closing the Digital Divide: Latinos and Technology Adoption”) says:

•    86% of Latinos own cell phones (whites 84%, blacks 90%)
•    49% of Latinos are likely to own smartphones (whites 46%, blacks 50%)
•    76% of Latino Internet users are likely to go online using a mobile device (white Internet users 60%, black Internet users 73%)

U.S. Latin Recorded-Music Sales

Per the 2012 Nielsen Soundscan, Latin Music Soundscanned almost 10M units, just ahead of Dance/Electronic (at almost 9M).

Per the 2012 RIAA year-end stats for Latin Music:

•    Physical goods represent 58% of music purchased
•    Digital represents 42% of music purchased
•    Latin Music represented 21.1M digital tracks sold (Nielsen)

RIAA stats also show that the most-purchased genres of Latin Music (in physical product at SRLP) are:

•    Regional Mexican – 59%
•    Pop/Rock – 28%
•    Tropical – 9%
•    Urban – 4%

The time has indeed come for the Hispanic market to no longer be seen as a niche market. The data show that U.S. Hispanics are the new mainstream.

{A future post will talk about Latin Music consumers in markets outside the United States.}

Founder and CEO of Navigation Partners LLC, Peggy Dold has in-depth experience in multi-cultural marketing, global expertise in both the English- and Spanish-language entertainment markets, and in working with International media, licensing, and strategic partners worldwide. Current clients represent the sectors of entertainment technology, entertainment superstars, and independent recording artists.  Projects include content development for multi-media distribution as well as business development for new technologies and Talent (for the U.S. General Market, the U.S. Latin Market, and for selected International markets.)

Ms. Dold is also co-Founder and co-CEO of April Sound Entertainment Group, a newly-formed Texas-based company focused on Artist Development, Artist Management, Project Funding, and Music Publishing.

Until Universal Music’s acquisition of the Univision Music Group (May 2008), Ms. Dold was Vice President, International, for the Univision Music Group, at the time, the largest Spanish language music company in the world.

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Contact information:  www.navigationpartnersllc.com; peggy@navigationpartnersllc.com.   
 

{Data collected from:  Nielsen; Hispanic PR Blog; Hispanic Trending; Social Media Monthly; RIAA; Billboard.biz; IFPI Digital Music Report 2013; NGLC; Media Daily News; comScore; ProMusic; Parks Associates; The Next Web; Reuters; VideoAge; US Media Consulting; PricewaterhouseCoopers; Fox News Latino; Lopez Negrete; Insight tr3s; The Media Audit; Pew Hispanic Center.}

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