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Music Industry On ‘Cusp’ of Sweeping Changes as Revenue Growth Slows, Says Goldman Sachs

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The closely watched Music In The Air report says there’s been a 20%-decline in revenue earned per audio stream in the last five years.

, Goldman’s researchers say monetization of music content is way behind the rate of consumption. They estimate that the revenue earned per audio stream has fallen 20% over the past five years, and that the revenue companies earn per hour of music streamed on Spotify is four times lower than for Netflix.

Researchers also sounded a positive note on the potential for generative AI to lower barriers for artists, boost music creation capabilities and improve industry productivity overall, with the major music companies best positioned to benefit.

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