Alongside Brazil, Argentina’s recorded music industry has experienced healthy growth in 2023. Unsurprisingly, the biggest contributor is digital.

Brazil isn’t the only South American country whose recorded music industry is displaying positive movement. Argentina’s recorded music industry reportedly grew 8.2% in 2023, with digital revenue being the key contributor to this cheering figure.

A new report from the Cámara Argentina de Productores de Fonogramas y Videogramas (CAPIF) trade body has revealed this growth for Argentina’s music industry, basing its findings off of “constant values” for the Argentine peso.

The lengthy report stated that digital sales, including audio and video streaming, accounted for more than 74.6% of Argentina’s music industry revenue in 2023. Similar to Brazil’s recorded music revenue growth, the biggest contributor to Argentina’s digital revenue is paid audio streaming subscriptions. These subscriptions make up for a whopping 64.5 of the total. Ad-supported streaming comes in second, contributing 22.1% to the overall digital total.

Image Credit: CAPIF

The Argentinian recorded music sector additionally generated 8.2% of its revenue from physical sales, such as vinyl and CD. With vinyl enjoying a global resurgence, it comes as no great surprise that vinyl was indeed the largest contributor to physical music revenue in Argentina in 2023, making up 57.5%. CD came in second place with 42.3%, and audio DVDs making up the rest with 0.2%.

Image Credit: CAPIF

While vinyl claims the biggest piece of the physical revenue pie and is up 33.8% from 2019, it is still down a considerable 61% from 2022.

In terms of platforms, Spotify came out on top for Argentinian music consumers last year. This market lead is applicable across all age cohorts, with upwards of 60% of those between 16-24 and 35-44. YouTube Music was the second most preferred service, with Amazon Music and SoundCloud featuring much further down the ranks.

The report analyses both market insights and consumer insights. We can learn that listeners in 2023 preferred Argentina-based artists, whose releases made up 53% of recorded music revenue. Spanish language projects from international acts accounted for 30%, and 17% of works recorded in non-Spanish languages around the globe.