Spotify: Mexico City is ‘streaming music capital’ of the world!
When we think about the ‘great’ cities – capitals for finance, fashion, and more – we tend to think of London, New York, Paris, and others. But according to Spotify, when it comes to music, Mexico City is the undisputed world capital. Spotify’s history in the Mexico goes back five years, when it took its first step into Latin America. The city’s 22 million-strong population has embraced music like no other, leading Spotify to announce that it is “the best destination for artists like Adele, Diplo, Metallica, Harry Styles, Radiohead, New Order, Bruno Mars, and Madonna.”
Spotify’s share price sunk by 5% last week, as continued negative sentiment put pressure on the market
Source: Yahoo Finance
Spotify described Mexico City as having the “biggest listener base in the world,” and noted that the recent Freddy Mercury biopic, Bohemian Rhapsody, has had an outsized impact there: “In no other city has the rebirth of Queen been as evident as in Mexico City. Immediately after the premier of the Freddy Mercury biopic Bohemian Rhapsody, the group’s streams rose to more than 1.3 million listeners in Mexico City alone.”
Queen, however, is not the exception to the rule. Rather, it’s just an example of it. Spotify said that Mexico City has the highest number of listeners, worldwide, of The Gorillaz (434,023), of The Beatles (509,000), and many others. What’s more, streaming music fans in the city respond well to live performances. Spotify said that streams of tracks by The Pixies increased by 346% prior to the band’s appearance in front of 100,000 people at the Zocolo Plaza earlier this month.
Spotify has managed to identify a key market for streaming music that dwarves London and New York. As bands become increasingly aware of the payoffs that the city offers, their tours will start to encompass more and more of the region. As a result, Latin America can expect to see a fuller, more vibrant, global music scene.
Dominion holds Spotify in its Global Trends Luxury Fund.
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