AUSTIN, TX (CelerityAccess) — Merlin, the digital rights organization for indie labels revealed that the streaming business is booming.
During an interview at this year's SXSW, Merlin's Charles Caldas revealed that music consumption in developing markets has been increasing by leaps and bounds. This is particularly pronounced across Latin American territories where, in the three years since January 2015, earnings to Merlin members increased five-fold – outpacing the pace of growth in established streaming markets such as North America, the UK, and Europe.
According to figures from Merlin, Brazil, once a hotbed of music piracy, is now Merlin's 6th highest earning territory, pulling ahead of ahead of France, Australia, and Canada. Other markets in the region, including Mexico, Argentina, and Chile have also broken into Merlin's top 20, the PRO said.
“Merlin’s independent record label members already occupy a unique position on streaming services, with their repertoire consistently over-indexing on subscription tiers compared to free ad-supported ones. Users of these services deeply engage with Merlin members' music, and are willing to pay for it," Merlin's top wizard Charles Caldas said.
“We now have irrefutable evidence that the new dynamics of streaming are opening up previously inaccessible territories to independent music, with a phenomenal consumption surge in Latin America and across Asia. What feels particularly exciting is that we’re only at the start of this growth trajectory – and with the potential of relatively untapped markets, including China, Russia and Africa, still to be realized,” he added.