The music industry is set for a radical shift due in part to generative AI, according to Goldman Sachs , which described the new technology as providing "significant opportunities" for the sector. It named five buy-rated stocks to play the trend: Live Nation , Warner Music Group , French digital music company Believe , China's NetEase , and Universal Music Group . All of the stocks are on its conviction list of top stocks.
Streaming means it's easier than ever for people to access music, but revenue has not matched consumption, the analysts noted. "For example, we estimate that the revenue per audio stream has fallen 20% in the past 5 years and that the revenue per hour streamed of music for Spotify is 4x lower than for Netflix ," the bank stated. Goldman likes events promoter Live Nation as it expects artists to tour more frequently due to what it calls the globalization of music.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Goldman Sachs: 8 stocks set to catapult profits and sales in 2 yearsGoldman Sachs: Buy these 8 stocks that have nearly doubled the market's gains this year and are set to catapult their profit and sales growth over the next 2 years
Source: BusinessInsider - 🏆 729. / 51 Read more »