Spanish music generates an estimated annual economic impact of nearly 154 million euros abroad, according to a new study. Live performances account for 71% of the total, contributing around 110 million euros compared with approximately 44 million from recorded music.
The study, Exports of Spanish Music, was produced by the Instituto de la Música, a project of the Federación ES_MÚSICA supported by the Ministry of Culture, alongside research centre CIMEC.
Recorded music exports stabilise
Figures from Promusicae put recorded music exports at 43.9 million euros in 2025, compared with 44.6 million in 2024. The figures suggest stabilisation following strong growth since 2021.
Two-thirds of that value comes through foreign collecting societies linked to digital consumption. Licensing accounts for almost a third, while physical formats contribute a small residual share.
Latin America accounts for 37.8% of recorded music exports. The United States represents 30.6%, making it the largest individual country market, followed by Mexico at 19.7% and Germany at 7.3%.
Spotify paid Spanish artists 156 million euros in royalties in 2025, with almost half generated by listeners outside Spain.
Measuring international live activity
The study estimated international live revenue using a sample of 222 artists and activity recorded on platforms including Songkick and Bandsintown. It identified 663 commercial concerts outside Spain in 2025, performed by 103 artists.
Extrapolating to an estimated population of between 3,500 and 4,500 professional artists, the study valued those concerts at between 90 and 130 million euros. Its central estimate was 110 million euros.
A separate strand of the research identified 406 performances across 319 festivals, fairs, showcases and institutional programmes, involving 195 artists. Of those artists, 128 were absent from the initial sample, indicating a broader base of international activity.
The regional breakdown of commercial concerts puts Latin America at 37.3%, the European Union at 29.1% and the United States at 20.4%. The study’s country breakdown lists Mexico at 20.5% and the United States at 19.9% as the leading destinations.
Electronic music accounts for the largest share of overseas concerts, at 24.7%. Pop generates 49.6% of the economic value, reflecting venue sizes and ticket prices.
The study identifies urban music as a recent driver of international activity. Folk, flamenco and electronic music find more favourable conditions in Europe, where language is less of a barrier.
Live earnings concentrate among leading artists
The 10% of internationally active artists generating the most economic impact account for 81.4% of the estimated total. The leading 20% account for more than 92%.
The study’s top 10 for live music in 2025, in order, are:
- Alejandro Sanz
- Miguel Bosé
- Hombres G
- Rels B
- Enrique Iglesias
- Bunbury
- Quevedo
- Melendi
- Arde Bogotá
- Mónica Naranjo
Market barriers and recommendations
Interviews with managers and a multinational record label describe a fragmented sector, a shortage of shared data and institutional support tools perceived as insufficient.
“There is still a lot to do before we can say we are an industry.”
Another professional described entering a market with limited support:
“We went there knowing practically no one.”
The study identifies the United States as a continuing challenge because of intense competition and the language barrier. It also describes increased professionalisation in Latin America, particularly in Mexico, Argentina and Colombia.
The report recommends:
- Treating recorded music and live performance as a single export strategy.
- Adapting market strategies to each genre.
- Producing open data on markets and audiences.
- Improving coordination among artists, managers, promoters, labels, collecting societies and institutions.
Related initiatives include the Instituto de la Música’s international mobility guide and the creation of FORMA, a new managers’ association. The report concludes that the sector needs to continually develop new projects with international potential alongside expanding touring opportunities for established artists.
