Spotify's premium subscribers in Latin America 2019-2024

 In the first quarter of 2024, Spotify had over 52 million premium subscribers in Latin America, up from 44 million in the first quarter of 2023 – an annual increase of about 19 percent. Meanwhile, the number of Spotify monthly active users (MAUs) in Latin America grew by around 29 percent in the fourth quarter of 2023. 

Brazil and Mexico spend the most time streaming music

Recent data shows that internet users in Mexico and Brazil devote more than two hours of their daily time to streaming music. However, while Brazil experienced a year-on-year growth of six percent in this regard, in Mexico, music streaming time declined by a fraction of a percentage point in the same period and by close to three percent since 2020. It is yet too early to say whether this trend will be a lasting one.

Spotify still the top streaming choice

What is certain is that music listeners in both countries rely heavily on Spotify. The company’s dominance is especially prominent in Mexico, where more than three-quarters of music streamers subscribe to the service. Interestingly though, Spotify has lost some ground in favor of other services such as YouTube Music, Apple Music, and Amazon Prime Music since 2021. In Brazil, Spotify is the leading streaming service, however, the market there is more varied. Here, the difference in usage between Spotify and its competitors such as YouTube Premium, Deezer and Amazon Music is not so pronounced, indicating perhaps an audience more open to less obvious players.