Colombia: The largest contributor to the world music market

According to several reports, only in the capital of the coffee country have been registered 1,765 companies in the music sector that have generated sales of at least USD $ 276 million

Colombia: The largest music exporter in Latin America

The Bogotá Music Market (BOmm) took place from September 11 to 14, a platform organized by the Chamber of Commerce of Bogotá as part of its program to support Creative and Cultural Industries. The BOmm seeks to open a space for all those people related to the music industry, such as musicians, composers, producers, brands, labels, etc; in order to discover new business opportunities and learn the latest in the industry.

Leer en español: Colombia: El mayor exportador de música de Latinoamérica

The numbers left by this edition of the BOmm are very promising. According to a report made by the organizers of the event, 102 national and 83 international buyers participated this year. In addition, there were about 3,200 business meetings, in which the 281 artists gathered in the framework of the BOmm participated.

These figures are a reflection of the development of the Colombian music industry. Daniel Mora, director of synchronization of Warner/Chappell Music Colombia, recently highlighted the great musical moment of the country. "We are the largest music exporters in Latin America," he said, adding that "the expectations of the region are set in Colombia and that gives us a lot of responsibility."

An industry that makes noise

According to the Commercial Registry of the Chamber of Commerce of Bogotá, only in the Colombian capital have registered 1,765 companies in the music sector until December 2017. In addition, as explained in a Portfolio report, these companies have generated at least 10,011 jobs and sales of at least $ 836 million Colombian pesos, that is, USD $ 276 million.

Likewise, Invest in Bogotá, an agency dedicated to the promotion of investment in companies based in the capital of the coffee country, has published figures according to which the capital received foreign investments of more than USD $ 400 million for the creative industries between 2007 and 2017. This exceeds that received by any other Latin American capital.

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All this is divided into the large number of types of companies that perform in the music industry. According to the Commercial Registry of the Chamber of Commerce of Bogotá , there are 980 companies dedicated to live musical shows, 304 to audio recording and editing, 240 to music creation, 183 to activities related to sound broadcasting, 38 to manufacture of musical instruments and 20 to the production of copies made from original recordings.

Artists on the world stage

The development of the Colombian music industry has been evidenced in the success that artists from that country have had recently. An example of this is J Balvin who, according to Billboard, was the most listened artist in the world on Spotify last June and who currently has 44 million monthly listeners on that platform.

Another example of this is Shakira, whose album "El Dorado", released in 2017, came in second place on the list of Latin Billboard's best albums, one place higher than "Energía" by J Balvin, and who also has 26 millions of monthly listeners on Spotify.

Also on this list is Maluma, who has 21 million monthly listeners on Spotify and participated in "Colors," the official Coca-Cola song for this year's FIFA World Cup. It is worth noting that these three Colombian artists have more monthly Spotify listeners than Queen, Nirvana or The Beatles.

LatinAmerican Post | Juan Diego Bogotá

Translated from "Colombia: El mayor exportador de música en Latinoamérica"

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