With its capital city famously hailed by Spotify as “the world’s music-streaming Mecca”, Mexico is already one of the most-watched markets for streaming.
Our new country profile provides an update on how that market is developing. Tomás Rodríguez, MD of Warner Music Mexico, told us that there are “around 20 million people” signed-up to music streaming services in the country. “That number is roughly evenly split between paying subscribers and those using advertising-supported tiers,” he said. In 2019, the Mexican recorded music industry grew by 17.1% according to industry body Amprofon, with 86.2% of its $180.8m revenues coming from streaming. That made Mexico the 16th biggest recorded music market in the world according to the IFPI, and the 12th for streaming. “The direction of travel is extremely positive – we expect to see more people who currently don’t stream become ad-supported users, and more ad-supported users then upgrade to premium,” added Rodríguez.
Read the full profile here, including an interview with Spotify’s MD for Latin America Mia Nygren. “We are the largest driver of revenue for the recorded music industry in Mexico,” she said. “Over 60% of all Mexican label revenue came directly from Spotify, based on IFPI reported revenue from 2019.”