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Brazil’s Billion-Dollar Electronic Music Industry

Brazil’s Billion-Dollar Electronic Music Industry

The booming Brazilian electronic music market, which has turned Brazil into one of the meccas of electronic music. Back then, a study by the Rio Music Conference (RMC), the largest gathering of electronic music and entertainment in the Southern Hemisphere, said that Brazil had reached an audience of 19.5 million e-music fans in 2011, who generated total ticket sales of $515 million and another $626 million on accommodation, food, transportation and other items. By the end of 2014, the e-music industry as a whole in Brazil  will grow about 30%, in spite of the country’s economy expected growth of 0.6%, according to the latest Rio Music Club annual report.

Those numbers keep growing fast. To showcase that, the third edition of the Dream Valley Music Festival took place this weekend in Penha, Santa Catarina, a summer resort in the south of Brazil. About 40,000 people, mostly from the upper classes and from all corners of Brazil and abroad attended the festival, which was organized by the Green Valley club, one of the best in the world according to DJ Mag.

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The club is located in Camboriu, Santa Catarina, in a region that also houses the Warung Beach Club, also considered among the best clubs internationally. One of Brazil’s richest states, Santa Catarina also has one of the best income distribution indexes in the country and a summer hotspot. Not surprisingly, the state is also known as Brazil’s answer to Ibiza, the Spanish capital of e-music and partying.

This year the Dream Valley Music Festival included performances from the world’s top DJs, such as Tommy Trash (Australia), Afrojack (Netherlands), and Kaskade (United States). Tickets went from $60 to $240 for a day.

It’s a good time to invest in the Brazilian entertainment industry. According to a study by PriceWaterhouse Coopers from 2012, by 2016 Brazil will have the world’s second-largest growth in media and entertainment investments, surpassed only by China and establishing itself as the world’s seventh biggest entertainment market.

Even though Brazil’s economy has practically stopped growing, some of its industries are still prosperous. In other words, there are still reasons for partying, especially when the party is the business.

Via: forbes

 

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