Billboard Latin Music Week 2023 brought exclusive expert conversations, industry workshops, and intimate networking opportunities for artists and attendees. Hosted at Faena Forum, Miami, Latin music’s largest event featured Shakira, Peso Pluma, La Base and Wisin, Deja Tu Huella with Myke Towers, Columbian singer-songwriter Fonseca, and others.
The following comes from Open On Sunday, a company DMN is proud to be partnering with.
Billboard Latin Music Week 2023, the 33rd edition of the event, brought attendees to showcases featuring talent, concerts, activation, and more. The event was all about getting the Latin music community together for entertainment, learning, education, and opportunities.
Billboard Latin Music Week is the world’s longest-running and largest Latin music gathering. The official kick-off event on October 2 provided the perfect stage for Latin music’s finest artists, actors, and entertainers to celebrate. Key themes to emerge from the event were the rise of Latin entertainment, from music to acting and even comedy. After some early rain kick-started the affair, artists and other attendees packed inside the theater.
Faena Forum provided the perfect backdrop for attendees to gain valuable insights from exclusive presentations and workshops — all while networking and making connections.
Discussions covered revenue management and protection, music touring, optimization of earnings in today’s streaming era, and the profound power of an artist’s catalog.
Panelist and catalog broker Denny Marte spoke to DMN about the true value of Latin music and what artists and songwriters need to know before putting their music catalog on the market. Marte revealed that clear conversations are the key to a successful deal.
“As a broker, it’s my responsibility to make sure my client has all their statements in order and their contracts. We are very clear that they don’t owe any money, there are no legal issues in terms of lawsuits, any type of issues that might impact selling the asset,” Marte explained, adding, “Then we put the package together and send it out to our buyers in the portfolio.”
Panelists delved into sources of revenue that are driving the genre forward, and highlighted how correctly navigating music touring could forge deeper relationships with the audience.
US-based Latin music revenues topped an unprecedented $1.1 billion in 2022. Billboard Latin Music Week 2023 highlighted the incredible growth of the music genre during the last three decades.
Earlier this month, Luminate published a study on Latin music, which revealed that Latin was — through the first 34 weeks of 2023 — the fifth-largest genre in the US. Insights from the study also revealed that Latin music topped dance/ electronics in terms of stream volume, and during the same time frame in the US, Latin music releases had racked up 57.9 billion on-demand streams for an almost 22.2% Year-over-Year (YoY) increase.
Latin music’s continued stateside growth has also become evident via other reports. According to the Recording Industry Association of America (RIAA), in September, US-based Latin music revenues increased 15% to a record high of $627 million — with streaming once again providing the lion’s share of growth, accounting for 98% of recorded revenues.
Billboard Latin Music Week took place on October 2 – October 6.
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