Never mind the slowing economy and fears of recession.
The music industry should have a bright decade.
Singing tomorrows?
By estimating that total global music revenue will more than double to $153 billion by 2030, that's exactly what Goldman Sachs is promising investors.
In its highly influential, regularly updated “Music in the Air” study, the global investment bank estimates that recorded music revenues will reach more than $53 billion.
That is double what the majors such as Universal Music, Warner Music or Sony Music collect today.
The windfall linked to the organization of concerts will generate more than 38 billion dollars, twice as much, again, as in 2022.
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As for streaming, it should generate a turnover of just over 89 billion dollars, before payment to the record companies, i.e. 2.5 times more than today…
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