The Mexican market is one of the most important worldwide for streaming music, in the country 56 percent of music is listened to through streaming apps. It is not a secret that technology changed the Singapore Mobile Database way of consuming all kinds of products and services, where music was no exception. streaming today has become the norm, leaving millions of dollars in profits for a relatively new industry.
The interest among consumers for services like Spotify have given the music industry a great pretext to reinvent itself on the way to continue generating great profits.
The interest of users
To give us an idea, it is enough to recognize what is happening in the Mexican market, where streaming platforms have replaced, to a certain extent, radio, as the channel for entertainment and accompaniment on their journeys.
According to a study by digital nPeople and NeuroMedia, in 2019, 57 percent of consumers listen to online audio, the trend presumes an increase of 13 percent, compared to 2018. 66 percent consume online audio daily; 27.2 percent several times a week and 6.8 percent occasionally.
The Mexican market is one of the most important worldwide for streaming music, in the country 56 percent of music is listened to through streaming apps.
Without a doubt in Mexico Spotify is the owner of the Mexican streaming music market. According to data from The CIU, the platform has 89.1 percent of the total national market with subscriptions. Another company that participates in the market but without having the penetration of Spotify is Apple Music, and Itunes with 5.8 percent of the market. In third place is Google Play Music with 2 percent of the market. The rest of the market is 3.1 percent complete, and with the legend “Other.”
A 350 million dollar industry
The interest reflected in these figures can only translate into a millionaire business, which this year will generate income close to 356 million dollars in Mexico, a figure that represents an increase of 154 percent when compared to what was achieved during 2017 , according to an analysis by Statista.
At this point it is important to consider that although revenues are on the rise, the average revenue per user (ARPU) maintains a downward trend.
Thus, during 2021, ARPU is estimated to reach $ 35.75 on average, slightly lower than projected in 2020.
With these figures, Mexico occupies the 14th position in the global ranking worldwide in terms of revenue generated by the streaming sector and the second in Latin America, only after Brazil, a market that will exceed 500 million dollars in revenue at the close this year, according to projections.
Exclusivity, the bet
Although the possibilities of connection and support at all times with personalized content were initially the engines for this segment, the truth is that now with increasing competition, these principles have changed.
And it is that now the exclusivity of the Brother Cell Phone List offer has become the norm to guarantee the preference of the users.
So winning the pre-launch of certain productions or having exclusive live events in the portfolio is the bet.
This aspect has disrupted the segments that, indirectly, have grown thanks to this boom.
As an example, we can talk about Misik , a firm that has several exclusive proposals in its portfolio that are committed to functionality and design.