According to the information of the IFPI (International Federation of the Phonographic Industry)
the Brazilian music industry had a strong commercial performance in 2022, recording growth above the global average.
the global market it grew by 9% in 2022 compared with the 2021 reports. Brazil, in this same period, grew by 15.4%.
Currently, Brazil is in the 9th position in the global music industry chart.
The growth of the Brazilian music market reported by IFPI is due to the good performance of streaming services they currently represent 86.2% of total industry revenue.
Furthermore Pro-Music Brazilwhich represents the country’s record labels, notes that the country’s music market is already in its sixth consecutive year of growth, an important fact that is also reflected in the increase in job creation.
It should be noted that during the coronavirus pandemicthe music market has also suffered a lot from the lack of concerts and events, impacting the loss of income for 89% of workers in the sector.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
