Music Market Region Profile: Latin America Streaming Drives A Music Market Renaissance
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The 20,000 Foot View
Driven by the proliferation of smartphones, streaming is beginning to gain traction across Latin America, resulting in new forms of music consumption. Whereas interest in physical formats has been steadily falling, most Latin American countries have not developed music download markets, thus creating latent digital demand. Consequently, streaming growth will accelerate over the coming years, although most of this growth will be concentrated in free streaming users rather than paid subscribers.
Key Findings
- Physical music will fall from of recorded revenues in 2015 to by with revenues of million
- Limited access international credit cards and the of dollar prices on the Store in Latin America stifled market growth
- The paid market never got going in America and revenues will fall an average of per year 2020
- Latin America one of the few regions that will experience music revenue between 2015 and 2020
- Streaming will its share of digital revenue in 2015 to in 2020 revenues of million
- Latin America have million music subscribers in up from million in 2015
- There are times as many free streaming million) as there are subscribers
- Countries undergoing crises, such as Brazil, will low music subscriber growth but demand for free streaming
- Latin America for less than of global revenue in 2015 but this increase to more than by
- Latin America one of the most prominent of the emerging markets’ digital rush but it has not fulfilled its potential
- Easy access free services and illegal sites held back the evolution of digital market
- Brazil and will remain as the biggest American music markets until 2020, corresponding to of market share revenue terms
Companies mentioned in this report: Amazon, Apple, Lollapalooza, Spotify, Vevo, YouTube