Latin America showed the highest increase for any region internationally, according to IFPI’s just-released Global Music Report 2017
Music revenue grew 12 percent in Latin America in 2016, the highest increase for any region internationally, according to IFPI's just-released Global Music Report 2017. It was the seventh year in a row that growth in Latin America topped that in other parts of the world.
There was a 57 percent rise in streaming revenue in Latin America, where digital now represents half of the total market.
"The growth is being driven by streaming and mostly by Spotify and Apple," Jesus Lopez, CEO of Universal Music Latin America, says. "The challenge is to get more and more consumers to convert from ad-supported models to subscription services. Part of that challenge is to tailor local solutions that reflect the consumer behavior of people in their own territories, such as differences in the periodicity of payments –daily or weekly – and spending in local currency."