BMG has announced it is launching a new office in Mexico City which will serve as a hub for the Latin America region. The new office is due to open towards the middle of this year, with recruitment underway for an initial general manager and team.
The company already has a base in São Paulo in Brazil, but plans to use the new Mexico office to further extend the on-the-ground support it can offer to its Anglo-American and Spanish language rosters in Latin America, before starting to sign up local talent in Mexico itself.
The new hub will also work closely with BMG Spain and the firm's US-based teams that work with artists in the Latin music domain.
Recorded music revenues in Latin America grew by 31.2% last year according to IFPI figures, mainly thanks to the ongoing streaming boom, with Brazil and Mexico together accounting for 66.5% of the region's record industry income. So, Mexico is definitely a country it’s sensible to expand it.
Plus, South America is also an increasingly important live music market and, with that in mind, BMG says that - as well as seeking to grow its streaming market share in this part of the world - it is also focused on maximising live performance royalties from Latin American countries for its songwriters.
Announcing the new Mexico City office, BMG's EVP Repertoire & Marketing EU, APAC & LATAM, Dominique Casimir, says: “Latin America is one of the most dynamic regions in music today. While we have a long history of working in these territories through third parties, now is the time to offer our clients an end-to-end BMG experience. We believe there is a significant gap in the market for our service-based ethic".