Latin Music Industry on It's Way to Extinction

Latin Music Industry on It's Way to Extinction

In May of 1999, when Ricky Martin appeared on Time Magazine's Cover "Latin Music Goes Pop", and the whole music industry aimed toward this novel market who would have thought that almost 10 years later this Latin Music industry that once was making headlines today seems to be on it's way to extinction.

Since then the whole Music scene has changed dramatically, CD's are dying and new formats have been born.

But wait, Latin America, as a region, has been denied of opportunities to be part of the global market of internet virtual stores.

Moguls like iTunes and similar outlets, due to expensive and poor internet service providers, social, political and economic unrest, aren't willing to invest or risk in regions where they can not guarantee proper payments to the major and independent labels who are trusting them with their royalties and contents.

So far iTunes is the way to go, their business model and transparency has proven successful and should lead as an example to new ideas on how to deal with today's music business practice and model for this part of the world.

Many researchers agree that technology and gadgets like iPods, iPhones and all sources of mp3 players are plunging the markets from Mexico to Chile and the Caribbean by the millions.

This year alone Apple Inc, reports that from their first generation iPhone, six million of these devices where shipped and sold through all Latin America at more than triple their original price.

Now Apple has opened virtual stores through out the region but for now you can only buy applications but no music content on their new iPhone 3G.

Now I wonder, if this was just with the iPhones I just can't imagine how many iPod owners are swarming through the streets of Buenso Aires, Brasil, Mexico, Colombia, Venezuela, Chile, Peru, Ecuador, waiting to be able to buy the music they like, music where Latinos represents a vivid market of more than 500 Million people.

At the end of 2001, 18 countries in...

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