Founder & Chief Growth Officer | Grammy-winning entertainment consultant | Startup Builder - Music/FinTech/Entertainment
The new Goldman Sachs report is extremely positive and bullish on music revenue growth (& streaming price increases) with their latest 'Music In The Air' report just released. Goldman Sachs has raised its "2024-30 CAGR" (the compound annual growth rate from now until the end of 2030) for the global music market, from +7.4% to +7.6%, and included predicting +10% and +11% YoY growth for the recorded and publishing markets. Its prediction for the gross revenues of the global music market at the end of 2030 is $163.7bn (compared to $98.3bn for 2023). The report contains other analytic predictions that explain its confidence in future music industry growth. Those predictions are: further upcoming price increases for music streaming subscriptions (the company models an approximate 3% average annual price increase); the suspected launch of "super premium plans catering to superfans"; the anticipated adoption of artist-centric payment models by more streaming platforms; and the "development of a framework and monetisation avenue for the use of music content by Generative AI models." The latter, it believes, will come via commercial licensing agreements or new legal precedents. The publicly available version of the larger report is here: https://lnkd.in/eVMSBmb3
Natalia Yanchak
1mo
So ok news for rights holders, terrible for performers?
Very interesting and informative read, thank you!