Live Now! – Music From The Award-Winning "Shrek" Film Franchise
See the Details
As the pandemic continues, its impact on music revenues continue to show both upside on downside results.
.jpg)
Goldman Sachs' latest music revenue prediction points to a 25% overall drop for this year, but most of that dip stems from live revenues. Analysts there are still bullish on streaming earnings. Meanwhile, Country music (normally a radio-heavy genre) is experiencing a notable uptick is streaming. And both Sony and SiriusXM so far have not experienced notable consequences from the pandemic.
Goldman Sachs Expects Global Music Revenue to Drop 25% This Year (Rolling Stone)
Despite the across-board drop, the firm says it still anticipates global industry revenue to soar to around $140 billion by 2030, driven by live shows and music streaming, in line with previous estimates.
The Beat Goes On for the Global Music Industry Despite Covid-19. Goldman Picks the Winners (Barron's)
Streaming revenue itself is expected to fare better this year, rising 18% against a weaker overall industry. Between 2019 and 2030, the Goldman team expects a 12% compound annual growth rate, reaching $75 billion by 2030.
Country Music Is Enjoying a Streaming Boom During the Pandemic: New Data (Billboard)
Over the last two weeks, country music has enjoyed a streaming bonanza, with on-demand audio streams growing 10.7% to a record high 1.26 billion for the week ending April 23. The next week ending April 30, a new record was set as streams grew 14.3% to 1.3 billion.
SiriusXM CFO Says Satellite Radio Faces Uncertain Coronavirus Impact (Billboard)
Frear said the COVID-19 crisis has driven new- and used-car sales down sharply, relative to year-ago levels, while stay-at-home listening to Pandora and SiriusXM has only partially offset the impact of lower advertising revenue.
Sony's Music Operations Post Nearly 40% Gain in Operating Income as Streaming Revenue Surges (Billboard)
The company said recorded music garnered revenue of $1.44 billion, a 12.1% increase over the $946.3 million the company tallied in the fourth quarter of 2018; while music publishing posted revenue of $367.6 million, a 13.2% increase over the $320.9 million accumulated in the year-earlier period.
