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Music Industry: Difference between revisions
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* Goldman Sachs is now predicting that the global music market will be worth '''$92bn in 2023 rising to $151.4bn by 2030'''. A bit below 2022 forecasts. The n'''et figures are $65.1bn in 2023 and $104.4bn in 2030.''' | * Goldman Sachs is now predicting that the global music market will be worth '''$92bn in 2023 rising to $151.4bn by 2030'''. A bit below 2022 forecasts. The n'''et figures are $65.1bn in 2023 and $104.4bn in 2030.''' | ||
* | * Its now forecasting an '''average CAGR of +8.6% for the recorded music industry between 2023 and 2030''', a figure which it calls “broadly unchanged” from its previous predictions. Its '''CAGR forecast for recorded music ''streaming'' growth in that same period (2023-2030) also remains “unchanged”, says Goldman, at +11%.''' | ||
* The 2023 prediction includes $28.2bn of recorded music revenues, which is down from last year’s forecast of $30bn. However, the report predicts $8.8bn of publishing revenues this year, up from the $7.8bn it expected a year ago. As for the live market, Goldman Sachs thinks that will be worth $28.1bn in 2023, compared to its previous prediction of $29.1bn. | * The 2023 prediction includes $28.2bn of recorded music revenues, which is down from last year’s forecast of $30bn. However, the report predicts $8.8bn of publishing revenues this year, up from the $7.8bn it expected a year ago. As for the live market, Goldman Sachs thinks that will be worth $28.1bn in 2023, compared to its previous prediction of $29.1bn. | ||
* Looking forward, the company’s $104.4bn of predicted net revenues in 2030 includes $50.1bn from recorded music, $14.7bn from publishing and $39.5bn from the live industry. | * Looking forward, the company’s $104.4bn of predicted net revenues in 2030 includes $50.1bn from recorded music, $14.7bn from publishing and $39.5bn from the live industry. | ||