Much has been written about Latin America’s current clout when it comes to exporting artists, thanks to the global success enjoyed by the likes of Bad Bunny, Anitta, J Balvin, Shakira, and most recently Peso Pluma.
However, there’s just as much interest in international companies and artists going the other way and reaching audiences within Latin America.
On the corporate side, Live Nation has just announced its latest expansion into Latin America. It has acquired a majority stake in Colombian music promoter Páramo Presenta, which is the company behind Bogota’s Estereo Picnic, Baum Festival and Knotfest festivals.
The deal was brokered through OCESA, the LatAm-focused promoter in which Live Nation bought a 51% stake in December 2021.
Future Páramo Presenta events will sell their tickets through OCESA’s Eticket subsidiary in Colombia, with Live Nation boss Michael Rapino describing the country as a “booming market”.
That’s one major change over the nearly-two decades since Páramo Presenta started. “After being raised in an era with very few shows in the country, and being part of an exponential rise of live music, today we celebrate this historic merge with Live Nation and OCESA, two of the most important entertainment companies in the world, with the firm conviction that it will propel us to new heights,” said CEO Gabriel García.
Meanwhile, on the artists side of things, a new project in Europe is hoping to help more artists from that continent grow their fanbases in Latin America. It’s called Algo-Rhythms, and is the work of marketing agency Melboss, AIM Ireland, the European Music Managers Alliance (EMMA) and WHY Portugal.
As the name implies, its focus will be on “the power of AI and smart data” to help European artists reach more listeners in Latin America.
The project, which is funded by the Creative Europe initiative, includes a Melboss-developed tool called ‘Smart Music Manager‘ used for artists’ marketing efforts. There will also be three training-focused bootcamps in October 2023, March 2024 and June 2024 as part of the programme.
According to the IFPI, Latin America’s recorded music market grew by 25.9% in 2022 to $1.3bn. It was the continent’s first billion-dollars-plus year, with Brazil the world’s ninth biggest recorded-music market and Mexico the 13th.
Other countries lower down the rankings still showed sharp growth too including Argentina (up 101.6% year-on-year), Chile (33.6%) and Colombia (32.1%).
It’s no surprise that international artists are keen to use every piece of technology they can to explore the potential of the region, while Live Nation’s Páramo Presenta deal also showing the burgeoning live sector in Latin America, which domestic and international artists alike will be hoping to tap into.
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