Music industry to nearly double in value by the end of the decade, Goldman Sachs says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Analysts at Goldman Sachs expect the online streaming market to capture 1.2 billion users by 2030, up from the 2019 level of 341 million paid subscribers.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett, Berkshire made $3 billion return on Goldman Sachs deal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Please sir Help. Point To Be Noted in This photos. Thanks. Save From Theses illegally Loan Vasooli Mafiaa. इन के लिए तो. No India, No RBI, No Kanoon, No moratorium Rule, No Costomer care. Only Illegally Mentally Hereshment. For Payment Recovery. so they made 60% returns on 10 years? seems low...
Source: BusinessInsider - 🏆 729. / 51 Read more »

Warren Buffett, Berkshire made $3 billion return on Goldman Sachs deal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Please sir Help. Point To Be Noted in This photos. Thanks. Save From Theses illegally Loan Vasooli Mafiaa. इन के लिए तो. No India, No RBI, No Kanoon, No moratorium Rule, No Costomer care. Only Illegally Mentally Hereshment. For Payment Recovery. so they made 60% returns on 10 years? seems low...
Source: BusinessInsider - 🏆 729. / 51 Read more »