WHO RECEIVES THE $10 YOU SPEND ON STREAMING? New markets Potential uptake. We believe global music industry revenue will slump in 2020, largely due to the disruption of live eventsWe believe that 21% of smartphone users will be streaming music by 2030.
of 16-34 year olds in the US reported using music streaming services in 2019 City of Miami, “Miami Forever Bond Project to Mitigate Effects of Sea Level Rise” (March 2019)
XinhuaNet, “China approves 2018-2035 master plan for Xiongan New Area” (January 2019)China Daily, “Xiongan New Area’s master plan: highlights” (April 2018) More are listening to music that they already know and makes them feel positiveMusic video streaming in the US increased during lockdown, compared with the 8 weeks beforeUS streams for artists such as the Beatles and Fleetwood Mac increased in March, suggesting a shift towards catalogue listeningof 16-24 year olds in the UK consumed music on Facebook or Instagram in April 2020Increase the importance of social media for music discovery and promotion
IPCC, “Global Warming of 1.5°C” (October 2018) Read the latest Music in the Air report for more on the future of the music industry And variety is often really important to us.”And when the bans on public gatherings are lifted, the music industry will start to recover. New York State Department of Environmental Conservation, “Coastal Storm Risk Management Projects” Investment bank and research firm Goldman Sachs has forecast a strong rebound for the live industry in 2021, in its 2020 Music in the Air report. Houston Chronicle, “Harris County voters pass $2.5 billion flood bond one year after Harvey” (August 2018) Spotify only operates in 79 markets, compared with Netflix at 194. of concert fans said they would continue to watch live streaming events even after physical events resume Streaming will save it. Global music revenue could drop as much as 25% this year due to the health crisis and its impact on the economy, according to new analysis by Goldman Sachs.. Music streaming on TV and games consoles doubled during lockdown United Nations, “Factsheet: People and Oceans” (June 2017)
“Although some of us are happy to keep the same album on for weeks at a time, others go to streaming for the variety. The investment bankers released its updated Music in the Air report this week, which spotlights the dramatic decline of income from the concert and live performance sector.
World Economic Forum, “Global Future Council on Cities and Urbanization” For example, 79% of fans said they expect to return to live events within four months of those restrictions ending, but they won’t fully leave streaming behind, the report finds.
We believe global music industry revenue will slump in 2020, largely due to the disruption of live events. 1.2BN . Key drivers of growth. ...followed by a strong rebound as the crisis drives the offline to online shift.The global music industry has been hit by the Covid-19 pandemic, but the slump is likely to be short-lived. The average price of a standard music streaming subscription has remained unchanged at $9.99 for the past decade, while Netflix prices have risen around 5-8% every year over 2014-19. Goldman Sachs raised some eyebrows recently with it's latest Music In The Air report that predicted the streaming music market alone would increase to … KEY DRIVERS: IFPI, Goldman Sachs Global Investment Research Climate-ADAPT, “Room for the River Waal – protecting the city of Nijmegen” (April 2016)
IPCC, “IPCC Special Report on Climate Change and Land” (August 2019)
A new report forecasts that the music industry will see a 75% plunge in live music revenue in 2020, due to COVID-19. IPCC, “IPCC Special Report on Climate Change and Land” (August 2019)New York State Department of Environmental Conservation, “Coastal Storm Risk Management Projects” President’s Council of Economic Advisors and U.S. Department of Energy, “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages” (August 2013) San Francisco Chronicle, “SF’s Embarcadero seawall measure wins easily” (November 2018) United Nations, “Factsheet: People and Oceans” (June 2017)WYNC, “A Great Wall of Staten Island to Ward Off Hurricanes” (August 2015)World Economic Forum, “Global Future Council on Cities and Urbanization” XinhuaNet, “China approves 2018-2035 master plan for Xiongan New Area” (January 2019)A TEMPORARY PAUSE: IFPI Global Music Report 2020, Music & Copyright, OMDIA, PWC, Company data, Goldman Sachs Global Investment Research TikTok), and positive regulatory developments,” the report finds.The forecast is for the industry to hit $142 billion in revenue by 2030, up 84% from $77 billion in 2019.Walmart has the 'secret sauce' for a profitable online business, former CEO saysAccording to researchers, the pandemic will “accelerate the shift” from offline to online music, prompt more “reliance on social media and streaming for music discovery and promotion,” and up direct-to-consumer efforts in merchandising and live-streaming.Until then, though, the music world has to contend with decreased physical sales due to stores temporarily closing, delayed new releases, and a “significant decline” in royalties from public use, such as at bars and gyms. New players. 341mn. TUNING INTO NEW HABITS: Spotify, Nielsen, Media Research, Alpha Data, Goldman Sachs Global Investment Research WYNC, “A Great Wall of Staten Island to Ward Off Hurricanes” (August 2015) OUR LONG TERM GROWTH OUTLOOK: Nielsen, BPI, IFPI Music Consumer Study 2019, Bandsintown : Goldman Sachs Global Investment Research Before lockdown, 40% of daily music consumption happened at work or in the car As the streaming market strengthens, we expect music streaming prices to rise. President’s Council of Economic Advisors and U.S. Department of Energy, “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages” (August 2013)
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