CAPIF’s annual report notes digital sales, including streaming, dominate with a 75% share.
The Cámara Argentina de Productores de Fonogramas y Videogramas, or CAPIF, has released its 2024 music report, which analyzes last year’s music consumption in the country.
In 2023, the market grew by 8.2% compared to 2022 with a sustained revenue growth trend in the digital space. According to the 70-page report, the data reflects the predominance and prevalence of digital consumption in today’s music industry with audio and video streaming dominating the market with 75%.
Furthermore, the public communication rights, collected by AADI-CAPIF, make up 16% of the market, while physical sales, represented by CDs and vinyl account for 8%. Synchronization, which covers the use of music in advertising, films and television, accounts for the remaining 1%.
“The music industry in Argentina has experienced a remarkable transformation in recent years,” wrote Diego Zapico, president of CAPIF, in the report. “From the explosion of urban sounds to the resurgence of traditional genres, the production of our music is leaving an indelible mark both nationally and internationally. The current state of Argentine music is vibrant and is full of challenges and opportunities, typical of this moment we are living in the country and globally … there’s a possibility of reaching the public through multiple platforms and formats.”
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While Argentine hitmakers like Maria Becerra, Bizarrap and Nicki Nicole have offered a global spotlight to the country’s burgeoning urban music scene, their music also fared well at home. According to the report, 53% of the music played in Argentina in 2023 was local repertoire.
The data also includes the top 10 songs from last year, which include Maria Becerra’s “Adiós,” “En La Intimidad” by Emilia, Callejero Fino and Big One, plus Ke Personajes’ “Pobre Corazón” ft. Onda Sabanera.
Read the full report in Spanish here.
