Analysts at Goldman Sachs said in a research note that live music would be "severely impacted" by the postponement and cancellation of events this year, leading to a 75% drop in revenue.It estimated the online streaming market could grow to capture 1.2 billion users by 2030.
But, over the longer-term, analysts at the bank expected a strong rebound, citing the secular growth of paid streaming, growing demand for music content and live events, new licensing opportunities and positive regulatory developments. A view outside Radio City Music Hall during the Coronavirus pandemic on March 31, 2020 in New York City. President Trump has extended the social distancing guidelines to April 30.The confinement measures, which vary in their application but broadly include school closures, bans on public gatherings and social distancing, are expected to result in the worst economic downturn since the Great Depression in the 1930s.
davidawiebe
I didn't realize there were so many people streaming music - I guess the digital age has made people richer, but I wonder how much of this trickles down to the artists
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