A Continent of Opportunities: Canadian Independent Music in the Latin American Market explores the most profitableand structured market opportunities across Latin and South America for Canadian independent artists. As one of the largest untapped music markets for Canadian businesses and artists, this in-depth, country-by-country analysis of Latin America provides key information on genres that chart on the radio, festivals and music companies that make each market tick. As part of the report, Sound Diplomacy, in partnership with in-market professionals, developed 10 country guides that extensively detail their respective music markets including, Argentina, Brazil, Costa Rica, Chile, Colombia, Cuba, Mexico, Panama, Peru and Puerto Rico.
The study revealed that Latin America as a whole for the fifth consecutive year had the highest level of growth in recorded music revenues. Digital revenues in Latin America rose 44.5%, more than four times the global average, while streaming revenue increased by 80.4%. The report also noted that Argentina has the second largest recorded music market in Latin America after Brazil, while the music market had a trade value of $141.6 million USD in 2015, 58% of which came from performing rights. Additional key findings include the use of streaming services has seen an increase by 34.8% since 2015, with Spotify being leading streaming platform in Argentina. The most popular genres as shown in the study in Argentina include electronic and roots, indie and psychedelic rock, afrobeat and dance roots.