France-born Hi-Res music platform Qobuz has expanded its service into six new countries: Brazil, Mexico, Argentina, Colombia, Chile and Portugal
Today’s news brings the total number of countries Qobuz is available in to 25.
Qobuz says that this expansion is an “opportunity for 470 million music lovers and audiophiles around the world to have access to an alternative streaming service.”
Qobuz says that it has raised $23 million to date, including a €10 million round secured in September 2020, and €12 million raised in August 2019.
According to IFPI’s Global Music Report 2022 – State of the Industry, the Latin America saw growth of 31.2%, making it one of the highest growth rates globally.
Streaming accounted for 85.9% of this market, says IFPI.
In 2021, Qobuz launched in Australia, New Zealand and the Nordic countries.
The company also acquired the Japanese high-resolution download service e-onkyo music in October 2021.
In the same year, Qobuz partnered with French digital music distributor TuneCore to make music from its roster of artists available on the hi-res streaming and download service.
“Since 2020, we have taken an ambitious approach to development.”
Georges Fornay, Qobuz
Georges Fornay, Deputy CEO of Qobuz, said: “We are happy to announce the opening of our service in Latin America and Portugal.
“There are many who have eagerly anticipated our arrival, awaiting access to a streaming platform that is 100% music-focused and off the beaten path.
“Since 2020, we have taken an ambitious approach to development.
“This next step will reinforce our desire to forge ahead as a high quality music platform based on a unique and eclectic music experience and a respect for artists.”Music Business Worldwide