The Latin Recording Academy introduced Thursday that it generated roughly $200 million (195 million euros) in financial influence from its multi-year sponsorship settlement with the Regional Authorities of Andalucía. The present passed off in Seville in 2023 — the primary time the awards have been held outdoors the US.
The $200 million determine accounts for a complete of three consecutive years of presence within the area, as present in an Financial and Reputational Influence Research carried out between 2023 and 2025 by international communications and company affairs firm Atrevia.
Arturo Bernal, minister of tourism and Andalusia overseas, stated the deal introduced an “extraordinary direct influence on the area and the Andalucian economic system,” including the Latin Grammys introduced visibility and “strengthened our presence within the American markets, that are more and more recognizing our area as a number one vacation spot in Europe and a venue for main occasions.”
The Latin Grammys are preceded by per week of events and different activations, and within the final three years, that week resulted in $214 million (186 million euros) due to further occasions all through 2024 and 2025 similar to Latin Grammy Celebra: Paco De Lucía, In Cádiz; Latin Grammy Classes: 25 Años and Latin Grammy Classes: Málaga; and Latin Grammy Celebra: La Música De Andalucía, In Seville.
The financial influence generated between 2023 and 2025 consists of:
● ~ $105 million (96.3 million euros) in financial influence
● ~ $108 million(98.7 million euros) in reputational influence
● ~ $8.3 million (7.5 million euros) in public income influence
● 1,360 jobs created in whole
“Our research exhibits that the direct, oblique and induced financial influence derived from The Latin Recording Academy’s occasions in Andalucía amounted to 96.3 million Euros, whereas the reputational influence reached 98.7 million Euros, pushed by the venture’s worldwide media publicity and its contribution to enhancing the Andalucía model (83.47 million Euros from promoting influence and 15.2 million Euros from projected future tourism),” said Manuel Sevillano, international director of Repute and Company Social Accountability at Atrevia.
The present returned to the U.S. for its twenty fifth anniversary in Miami. They’ll happen in Las Vegas on Nov. 13 with performances from Unhealthy Bunny, Rauw Alejandro, Karol G, Ivan Cornejo, Ca7riel and Paco, Kacey Musgraves and plenty of extra.
