mexico has solidified its position as a major player in the global music industry, achieving the rank of The tenth largest music market in the world in 2024, according to the IFPI. This growth is largely fueled by streaming, which accounts for 50% of the industry’s revenue, generating over $20 million. Vinyl sales also saw a rise of 4.6%, while physical formats experienced a slight decrease of 3.1%. The Mexican music sector now represents 3.3% of the global streaming market, with revenues reaching USD 1,532.8 million in 2024. Projections estimate an average annual growth of 14.8% through 2030.

The surge in popularity is attributed to the diversification of musical offerings, with genres like Corridos lying gaining international recognition. Artists like peso Pluma have achieved global success, with “She dances alone” topping the Billboard Global 200 charts and earning numerous certifications.

Platforms like Spotify have played a crucial role in showcasing Mexican talent such as Kenia OS and Xavi, reinforcing Mexico’s cultural influence and demonstrating its capacity for rapid change, blending regional sounds with global trends.

Eduardo Basagaña’s Vision for latin Music

Argentine businessman Eduardo Basagaña, with over a decade of experience working with artists like Karol G, Aitana, Mon Laferte, and Ana Mena, is expanding his operations into Mexico. Since founding EB Producciones in 2013, Basagaña has focused on integrating entertainment and technology. During the pandemic, he launched +alive, a platform for streaming concerts with immersive technologies like 8D and VR 360 ° Audio, setting a new standard for digital music experiences in Latin America. Luna Park of Buenos Aires chose his platform for their live broadcasts.

“Mexico has the potential to be the epicenter of cultural innovation in the Hispanic world. I want to contribute my part to make that happen.”

Basagaña aims to revolutionize the audience experience, anticipating future trends in music consumption. He is currently developing Latin America’s first musical metaverse, featuring interactive concerts, customizable avatars, and a digital economy centered around immersive experiences.This initiative aligns with projections estimating the metaverse market to exceed $800 billion by 2026 and holds critically important potential in Mexico,where digital adoption and music streaming are highly prevalent.

Bridging cultures and Developing Artists

Beyond his technological endeavors, Basagaña has facilitated cultural exchange, organizing the first K-Pop online concert for latin America in 2020, earning recognition from the South Korean government. He also established Loving Asia, a platform for bringing Asia-Pacific content to Spanish-speaking audiences. His expertise in platforms like QQ Music in China, Melon in Korea, and Line Music in Japan positions him to integrate Mexico into previously unexplored cultural circuits.

Basagaña is also dedicated to artistic growth, currently representing Ana Mena, a prominent figure in Spanish pop, as she prepares to launch in Mexico. He recently launched his own record label, debuting with Juli Obregón, whose music has garnered millions of streams. His strategy involves collaborations with Mexican artists and tours throughout the country, promoting local talent with a global perspective.

Mexico is a strategic priority for Basagaña, due to its market size and its role as a cultural bridge between Latin America and the united States. With a strong business infrastructure, a thriving music scene, and emerging talent, Mexico offers ideal conditions for projects like +living, new record labels, and hybrid festivals.

Basagaña‘s background includes studies in finance at the Argentine Catholic University, entertainment at the University of Palermo and the University of New York, and technological entrepreneurship at Harvard Business School. This blend of creativity and strategy informs his approach. He is also committed to social obligation, from organizing charitable festivals in Argentina to receiving recognition in New York for promoting Latin culture.

Looking ahead, Basagaña plans to form alliances with local promoters, launch collaborative projects with Mexican artists, organize tours, and expand his digital ecosystem in the country. As Basagaña states, “Mexico has the potential to be the epicenter of cultural innovation in the Hispanic world. I want to contribute my part to make that happen“.

As Latin music gains global prominence, the intersection of culture, technology, and business strategy will be crucial in shaping the future of entertainment. Latin America is not only exporting talent but also innovative models that resonate worldwide. The challenge now is to sustain this growth through strategic vision, infrastructure development, and collaborative partnerships.