Music Market Region Profile: Latin America Streaming Drives A Music Market Renaissance
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Driven by the proliferation of smartphones, streaming is beginning to gain traction across Latin America, resulting in new forms of music consumption. Whereas interest in physical formats has been steadily falling, most Latin American countries have not developed music download markets, thus creating latent digital demand. Consequently, streaming growth will accelerate over the coming years, although most of this growth will be concentrated in free streaming users rather than paid subscribers.
Companies mentioned in this report: Amazon, Apple, Lollapalooza, Spotify, Vevo, YouTube