In August, the Brazilian music market reached the level of R$ 1 billion in the royalties distributed to composers, musicians and others national artists AND foreigners who played their songs in the country.
The numbers come from the Ecad (Central Collection and Distribution Office) and consider the cumulative distribution of the values from first eight months of 2024.
Over the years the institution had already exceeded this threshold 2017, 2022 AND 2023. Unlike previous years, the first billion in royalties in 2024 was achieved four months before the annual closing date. This was possible thanks to radio, TV open AND video streaming which, together, added up 47% of the distributed amounts.
The institution’s forecast for this year in the music market is to distribute a total of R$ 1.5 billion in copyright for the artistic class.
Ecad is a private, non-profit institution and the only one in Brazil responsible for collecting and distributing royalties for public musical performances.
Music Market: Streaming in Brazil Generated R$1.4 Billion in 2024
Although the North American recorded music market, considered the No. 1 in the world – revealed a modest increase in its equivalent revenues 4% in the first half of 2024, the scenario in Brazil It also allows for a celebration.
If we USAadhesion to services music streaming he just grew up 2.7% compared to 2023in Brazil, the largest phonographic market in Latin Americaregistered at increase of 13.4% in the first half of this year due to revenues from the digital format compared to the same period last year.
Overall, the recipes for streaming contacted 255 million dollars (something around R$ 1.4 billion at the current exchange rate). This result places digital platforms as the preferred product for Brazilian subscribers to consume music. One increase of 21.1% compared to the previous year. The data comes from IFPI.
Considering only the revenues from digital music AND physicistTHE streaming represents more than 99% of the Brazilian market of recorded music.
“The 21% increase in the sector’s digital and physical revenues directly reflects the efforts and investments made by record companies, both in the production of national musical content and in the marketing, promotion and career development of thousands of Brazilian artists”explains Paul Rosepresident of Pro-Música Brasil, as reproduced in MBW.
The executive notes that these current data relating to the Brazilian music market in the first half of 2024 reveal the “predominance of music distribution on music streaming platforms operating in Brazil, following a global trend observed over the last 10 years or more.”
The most successful song in Brazil through streaming in the first half of 2024 is Take Me Home / Written in the Stars / Saudade(Live) of the country singer Laurana Pradoa band distributed in the country by Universal music.
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.
