Music sales in Argentina, the world’s 34th largest market (and Latin America’s third), jumped for the year ending December 2007. According to figures released by Argentina’s record industry association, CAPIF, a total of 18.1 million units of physical product were sold in 2007, a 6% increase from the 17.2 million sold in 2006.
Digital sales, which include downloads as well as mastertone sales, went up by nearly 300%. However, digital accounts for only 4.1% of total music sales.
All told, the monetary value of the Argentine marketplace grew by over 9%. This is the fifth consecutive year that the Argentine music market registers growth in value and units sold, according to CAPIF numbers.
The market plummeted in 2001 after recession hit Argentina and has been slowly recovering since. It is now the closest it has ever been to the 21.8 million units sold it registered at its height in 1997.