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Music Industry: Difference between revisions
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* It predicts tha'''t ’emerging platforms’ will account for 14% of global recorded music revenue (up from 6% last year) by 2030.''' | * It predicts tha'''t ’emerging platforms’ will account for 14% of global recorded music revenue (up from 6% last year) by 2030.''' | ||
'''Streaming''' | '''Streaming''' | ||
* Its '''CAGR forecast for recorded music ''streaming'' growth in that same period (2023-2030) also remains “unchanged”, says Goldman, at +11%.''' | * Its '''CAGR forecast for recorded music ''streaming'' growth in that same period (2023-2030) also remains “unchanged”, says Goldman, at +11%. Previous was 12%.''' | ||
* Prediction for recorded '''music ''streaming'' revenue in 2023 has been pared down: Goldman now expects 2023’s global music streaming revenue (gross) to grow by 11.9% YoY (vs a 13.0% previous forecast).''' | * Prediction for recorded '''music ''streaming'' revenue in 2023 has been pared down: Goldman now expects 2023’s global music streaming revenue (gross) to grow by 11.9% YoY (vs a 13.0% previous forecast).''' | ||
* It also expects net/wholesale recorded music streaming revenue (i.e. the money paid to labels and artists) this year to grow by 12.0% YoY (again, vs. 13.0% in its prior predictions). | |||
* Goldman is forecasting within its numbers that '''headline prices at music streaming services in developed markets (US, Europe etc.) will increase by an average of 3% per year over the next seven years.''' | * Goldman is forecasting within its numbers that '''headline prices at music streaming services in developed markets (US, Europe etc.) will increase by an average of 3% per year over the next seven years.''' | ||
* If 20% of paid streaming subscribers today could be categorized as ‘superfans’, says Goldman, and if these '''‘superfans’ were willing to spend double what a non-superfan spends on digital music each year, it implies a $4.2 billion (currently untapped) annual revenue opportunity for the record biz.''' That $4.2 billion figure, however, represents a ‘Total Addressable Market’ (TAM). | * If 20% of paid streaming subscribers today could be categorized as ‘superfans’, says Goldman, and if these '''‘superfans’ were willing to spend double what a non-superfan spends on digital music each year, it implies a $4.2 billion (currently untapped) annual revenue opportunity for the record biz.''' That $4.2 billion figure, however, represents a ‘Total Addressable Market’ (TAM). | ||
* Goldman’s forecasts remain very similar to where they were before – though it’s shaved 60 million off its previous 1.26 billion subscriber forecast for 2030, partly reflecting the exclusion of Russia from estimates. | * Goldman’s forecasts remain very similar to where they were before – though it’s shaved 60 million off its previous 1.26 billion subscriber forecast for 2030, partly reflecting the exclusion of Russia from estimates. | ||
* Goldman also forecasts that '''’emerging platforms’ will account for a whopping 47% of the recorded music industry’s revenue from ad-funded streaming by 2030.''' | |||
== References == | == References == | ||