Rio de Janeiro, Brazil, where Pro-Musica Brasil is headquartered. Photo Credit: Elise Lainé
Thanks to a continued streaming expansion, the Brazilian recorded music industry grew by over a fifth during 2024’s initial half, according to a new report.
Pro-Musica Brasil just recently disclosed the stat and different noteworthy figures in its H1 2024 breakdown of Brazil’s recorded music market. The ninth largest in the world as of 2023, according to the IFPI, that quick-developing music sector, like several others in South America, revolves around streaming.
Predictably, this on-demand listening reliance didn’t change during H1 2024, when the lion’s share of recorded industry revenue derived from streaming, per the mentioned report. All told, Brazil experienced a 21 percent YoY revenue surge during Q1 and Q2 2024, to $255.37 million (R$1.44 billion) at the present exchange rate, the resource shows.
The sum, up approximately 70 percent from 2021, includes only streaming and physical sales, not downloads, merch, or various licensing categories, Pro-Musica indicated in the report and a summary posted to Instagram.
More impressive yet is the 28.4 percent YoY spike turned in by streaming subscriptions, which generated $176.42 million (R$995 million); ad-supported listening revenue improved by a comparatively modest 6.6 percent YoY to hit $77.30 million (R$436 million), Pro-Musica Brasil relayed.
Overall, should the back half of 2024 deliver similar results, Brazil’s recorded streaming revenue would crack half of a billion dollars for the entire year.
Addressing the performance and the broader significance thereof, Pro-Musica Brasil president Paulo Rosa touted the numbers as a byproduct of ongoing investments in the increasingly lucrative Brazilian music market.
Those investments include the stake Warner Music took in Sua Música in July, after opening a Rio de Janeiro headquarters at the top of 2024 and before unveiling a structural overhaul for Warner Music Brazil late last month. One component of the latter involves achieving a greater presence in Brazilian genres such as sertanejo, forró, and samba.
Meanwhile, commercially prominent artists including The Weeknd are now staging once-off concert specials in the nation of roughly 215 million residents. The artist’s sold-out São Paulo event is set to livestream exclusively on YouTube when it takes place this coming Saturday, September 7th.
Furthermore, bearing in mind the particular importance of streaming in Brazil, the IFPI has long spearheaded campaigns designed to minimize piracy and fake plays in the country. Most recently, the organization and Pro-Musica Brasil formally announced the launch of “Operation Redirect,” which, with the help of Brazilian law enforcement, is said to have decommissioned eight “illegal music sites” last month.