The number one question for anyone in the music industry now – recorded or live – is what shape the business will be in when we finally emerge from the lockdown. Anything close to certainty is, of course, impossible but it some countries will inevitably emerge stronger than others.
Colombia – the subject of our latest Country Profile – could be one of the countries most suited to weather the storm. The country’s recorded music business has been growing strongly over the past five years, culminating in a 14.8% rise in 2019, according to local sources. while the strength of music streaming, which represented more than 95% of all sales in 2019, should help to insulate it from the collapse in physical music.
Deborah Jourdan, head of North and Central America at Deezer, said in the Profile piece that Colombian artists face “the same tough reality as everyone else” in the face of coronavirus. And yet, with the country’s strong digital infrastructure, she believes growth is still possible. “We believe that the Colombian music industry will continue to grow,” she said. “We’ve seen healthy user growth in the country, thanks to our focus on featuring local Colombian artists and content to help our listeners discover content they love.”
Image by JStone / Shutterstock.com
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