SONO Music Insights: Streaming Trends, Indie Growth, and Record-Breaking Milestones

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Rising Subscription Costs and Milestones in Music Streaming

In the ever-evolving landscape of music, Goldman Sachs forecasts a more frequent increase in music streaming subscriptions every 12-24 months, marking a notable shift in the industry’s pricing strategy. This change is expected as music-streaming services aim to align with the pricing trends of on-demand video platforms, which have seen regular hikes in recent years. While price adjustments have been sluggish, the confidence among industry leaders is growing, signaling forthcoming increases.

This strategic move is essential to the music industry’s projected growth from $105 billion in 2024 to nearly $200 billion in 2035, encompassing recorded music, publishing, and live sectors. Emerging markets, accounting for 60% of new subscribers in 2024, play a pivotal role in this expansion, yet still present untapped potential, with only 8% penetration.

In India, the focus remains on converting users to paying subscribers. Recent discussions at the All About Music conference highlighted genre-based pricing and enhanced free-tier restrictions as potential solutions to drive subscriber growth in these regions.

Amid these developments, The Weeknd’s “Blinding Lights” has triumphed as the first track to surpass 5 billion streams on Spotify, a testament to the artist’s enduring appeal and streaming’s pervasive influence.

Meanwhile, the independent music scene thrives with Kahuna, an artist-financing startup, raising over $1 million in funding, marking its growing impact by supporting over 250 creatives. Such initiatives highlight the burgeoning opportunities for independent artists navigating the evolving industry landscape.

In tribute to BeatBread’s CEO Peter Sinclair, who recently passed away, the team is determined to continue his legacy, further emphasizing the community-driven spirit prevailing throughout the music sector. As platforms like Bandcamp adapt to new tariff regulations, allowing US-specific merch sales, and Madonna’s remix contest on Beatport stirs creative engagement without AI interference, the music world continues to pivot, innovate, and inspire.

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