This 2021 the music and radio industries in Peru could generate a total of US $ 152 million, according to PwC’s Global Entertainment & Media Outlook 2020-2024 report.
These industries are expected to have a annual average growth of 5.57% and generate an estimated US $ 201 million in 2024.
In 2020 revenue of US $ 134 million was recorded in large part thanks to music streaming and radio advertising.
How much does the music industry make?
In 2019 the music industry obtained revenues of US $ 37 million, this counting the earnings from live concerts, recorded music and performance rights.
Although In 2020, the pandemic strongly affected the sector, with revenues of US $ 31 million.
About US $ 4 million were obtained from live concerts (which were allowed until before the state of emergency). Sponsorship and ticket sales are taken into account in these revenues.
About US $ 28 million was raised for recorded music, that is: streaming and advertising on streaming platforms.
For its part, radio earned $ 103 million in revenue for advertising.
It should be noted that podcast are also in a high growth segment, but the report indicates that “It does not yet have records regarding the advertising revenue of Peruvian podcasts”.
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