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

📆 6/28/2023 1:54 PM
📰 billboard

⏱ Reading Time:
13 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

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.

Write Comment

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:

United States United States Latest News, United States United States Headlines

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

Academy of Country Music Reveals Industry, Studio Recording Awards WinnersAmong this year’s winners are Jay Joyce, Justin Niebank, Ed Warm and Moody Center.
Source: billboard - 🏆 112. / 63 Read more »

Adele’s Agent Lucy Dickins to Receive U.K.’s Music Industry Trusts AwardWME’s global head of contemporary music and touring will take home the same award that her uncle, Rob Dickins, received 20 years ago.
Source: billboard - 🏆 112. / 63 Read more »