Goldman Sachs Report Predicts Booming Growth for Live Music, AI, and Streaming Prices

Goldman Sachs predicts a 7.6% CAGR for the global music market, driven by live music, AI, and streaming prices. Emerging markets also play a key role.

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Goldman Sachs Report Predicts Positive Growth for Live Music, AI, and Streaming Prices

In a recent report titled “Music in the Air,” Goldman Sachs has once again made bullish forecasts for the global music market. The report predicts a compound annual growth rate (CAGR) of 7.6% from now until 2030, with gross revenues reaching $163.7 billion by the end of that year. This is a slight increase from their previous forecast of 7.4% CAGR.

One of the main drivers of this growth is the live music market, which is expected to see a 31% increase by 2030. This is significantly higher than the predicted 10-11% growth for the recorded and publishing markets. The report attributes this growth to the increasing demand for live experiences, particularly among Gen Z and Millennials, as well as the globalisation of music allowing artists to tour anywhere in the world.

But it’s not just live music that is expected to see growth. The report also predicts further price increases for music streaming subscriptions, with an average annual increase of 3%. It also anticipates the launch of “super premium plans” catering to superfans and the adoption of artist-centric payment models by streaming platforms. Additionally, the report sees potential for the use of music content by Generative AI models to generate revenue through commercial licensing agreements or new legal precedents.

While these predictions may seem predictable, the report also delves into the potential impact of AI on the music industry. It believes that AI will not only increase the number of songs uploaded to streaming platforms but also play a role in marketing and growing artists’ audiences. The report also sees value in professional artists utilizing AI in their music creation and production process.

The report also highlights the importance of emerging markets in the future of the music industry. It predicts that 70% of net subscriber additions in 2030 will come from these markets. This presents a significant opportunity for growth, especially in countries like India and China.

It’s worth noting that the report is a redacted version of a larger, more detailed report. However, even in its condensed form, it provides valuable insights into the potential growth of the music industry in the coming years.

Overall, the Goldman Sachs report paints a positive picture for the future of the music industry, with live music, AI, and streaming prices all expected to see significant growth. While some of these predictions may seem ambitious, they are based on thorough analysis and research. It will be interesting to see how these forecasts play out in the coming years and how the music industry adapts to these changes.

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