According to a recent report from Pro-Musica Brasil, the recorded music market in Brazil expanded greatly during the first six months of 2024. Revenue increased by over 20% compared to the same period last year, totaling approximately $255 million.
Streaming continues to drive the majority of income in Brazil’s music industry, which is the ninth largest globally. Subscription services alone accounted for $176 million in revenue – a 28.4% jump year-over-year. Income from advertising-supported streaming rose at a slower but still impressive rate of 6.6%.
If the second half of the year matches the first, Brazil could surpass half a billion dollars in total streaming revenue for all of 2024. Pro-Musica Brasil’s president, Paulo Rosa, highlighted the growth as a result of ongoing investment targeting the lucrative Brazilian music market.
Several industry moves signal this increased focus. Warner Music recently acquired a stake in Distribuidora Sua Música, and opened an office in Rio de Janeiro. They also overhauled operations in Brazil to strengthen positions in popular genres like sertanejo, forró and samba.
Mega artists are now holding one-off concerts in the country too. The Weeknd sold out a São Paulo show scheduled for early September, which will exclusively stream on YouTube. Additionally, anti-piracy efforts led by Pro-Musica Brasil and the IFPI continue combating illegal sites and fake streams.
