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Music Industry: Difference between revisions
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[[File:Screenshot 2023-07-18 151758.png|center|thumb|798x798px|https://www.musicbusinessworldwide.com/peloton-paid-the-record-industry-more-than-tiktok-last-year-says-goldman-sachs-in-latest-music-in-the-air/]]Analysts at Goldman Sachs remain positive about future growth in the music business, despite reducing their previous prediction for market growth this year from 8% to 7.1%. Goldman Sachs thinks that the under-monetisation of music can be solved in several ways, including regular recurring price rises for streaming subscriptions, and more efforts to make money from superfans of artists.<ref>https://www.musicbusinessworldwide.com/peloton-paid-the-record-industry-more-than-tiktok-last-year-says-goldman-sachs-in-latest-music-in-the-air/</ref><ref>https://musically.com/2023/06/29/goldman-sachs-updates-its-music-industry-revenue-forecasts/</ref><ref>https://completemusicupdate.com/article/more-major-structural-changes-likely-as-music-industry-pursues-next-round-of-digital-growth-says-goldman-sachs/</ref> | [[File:Screenshot 2023-07-18 151758.png|center|thumb|798x798px|https://www.musicbusinessworldwide.com/peloton-paid-the-record-industry-more-than-tiktok-last-year-says-goldman-sachs-in-latest-music-in-the-air/]]Analysts at Goldman Sachs remain positive about future growth in the music business, despite reducing their previous prediction for market growth this year from 8% to 7.1%. Goldman Sachs thinks that the under-monetisation of music can be solved in several ways, including regular recurring price rises for streaming subscriptions, and more efforts to make money from superfans of artists.<ref>https://www.musicbusinessworldwide.com/peloton-paid-the-record-industry-more-than-tiktok-last-year-says-goldman-sachs-in-latest-music-in-the-air/</ref><ref>https://musically.com/2023/06/29/goldman-sachs-updates-its-music-industry-revenue-forecasts/</ref><ref>https://completemusicupdate.com/article/more-major-structural-changes-likely-as-music-industry-pursues-next-round-of-digital-growth-says-goldman-sachs/</ref><ref>https://www.goldmansachs.com/intelligence/page/music-streaming-services-are-on-the-cusp-of-major-structural-change.html</ref> | ||
“The music industry is on the cusp of another major structural change given the persistent under-monetisation of music content, outdated streaming royalty payout structures and the deployment of Generative AI,” it explains. | “The music industry is on the cusp of another major structural change given the persistent under-monetisation of music content, outdated streaming royalty payout structures and the deployment of Generative AI,” it explains. | ||