The Cámara Argentina de Productores de Fonogramas y Videogramas, or CAPIF, has released its music report for 2024, which analyzes last year's music consumption in the country.
In 2023, the market grew by 8.2% compared to 2022 with a steady trend of revenue growth in the digital space. According to the 70-page report, the data reflects the dominance and prevalence of digital consumption in today's music industry with streaming audio and video dominating the market at 75%.
In addition, public communication rights, collected by AADI-CAPIF, make up 16% of the market, while physical sales, represented by CDs and vinyl, account for 8%. Synchronization, which covers the use of music in advertising, film and television, accounts for the remaining 1%.
“The music industry in Argentina has undergone a remarkable transformation in recent years,” he wrote Diego Zapicopresident of CAPIF, at the exhibition. “From the explosion of urban sounds to the revival of traditional genres, our music production leaves an indelible mark both nationally and internationally. The current state of Argentine music is vibrant and full of challenges and opportunities, typical of the moment we are living in the country and globally… there is the possibility to reach audiences through multiple platforms and formats.”
While Argentine hitmakers such as Maria Becerra, Bizarrap and Nicki Nicole have brought the country's burgeoning urban music scene into the global spotlight, their music has also done well at home. According to the report, 53% of the music played in Argentina in 2023 was local repertoire.
The data also includes last year's top 10 songs, which include “Adiós” by Maria Becerra, “En La Intimidad” by Emilia, Callejero Fino and Big One, as well as “Pobre Corazón” by Ke Personajes and Onda Sabanera.
Read the full report in Spanish here.
from our partners at https://www.billboard.com/pro/argentina-music-market-report-2024-capif-revenue/
