Current Panorama of Music and Entertainment Consumption in Mexico

Mexico is one of the countries that consume the most entertaining content in the world, although it still needs to consolidate its creative industries, said Arturo Saldivar, creative director of Talent Land, in his conference "Current panorama of creative production in Mexico, its future and the industry's work", at the 37th edition of the Guadalajara International Film Festival.

He exemplified the case of the Spotify platform, which last year held its awards in Mexico City because Mexicans are the ones who consume the most music content in the world; in addition to the fact that two of the seven most important music show promoters in the world are Mexican, due to the high consumption of concerts.

Live Nation, the most important producer in the industry, acquired more than 50 percent of Ocesa, which will result in more festivals and concerts of international stature and that the Mexican public will be able to see figures that had not previously come to the country.

According to studies by Forbes magazine, by 2025 Mexico will be the sixth world power in entertainment and by 2030 it will be among the top five, which attracts the attention of companies and producers of all types of entertainment such as Spotify, Netflix, and Amazon and HBO platforms.

He presented a study that projected that between 2006 and 2021 the entertainment industry would have a growth rate of 4.2 percent on average, although the greatest development would be in internet video with 6 percent, internet advertising with 4.3 percent, video games with 2.7 percent and internet access with 0.5 percent, while cinema had a decrease of -1.2 percent and music minus 2 percent, television and video, books and magazines already had a decrease of between 4.2 and 6 percent.

Data from the National Commission for the Protection and Defense of Users of Financial Services cited: that 6 out of 10 Mexicans are willing to pay for entertainment, hence the increase in the number of subscriptions to online content platforms.

Strengthening the country's creative industries is essential to ensure that this entertainment boom in the country benefits Mexicans and boosts local talent.

According to the Inter-American Development Bank, in recent years the creative industry represented earnings of more than 175 million dollars, especially in the music industry.

Given this, "we need to see how we can merge the different tools or lines of business, especially taking advantage of the fact that the Covid-19 pandemic accelerated the popularization of streaming".