Yesterday was MLK Day, so no new numbers from BB or the Hot 100 yet to talk about today.
HDD reports that the Financial Times predicts that streaming revenue will grow the music biz over the next 10 years. Goldman Sachs (when have they ever been wrong?…) predicted in a December report that streaming will dwarf sales and licensing revenue by 2030. They predict the music biz will be worth $30B. The winners will be the labels and the losers will be the composers.
Okay, $30B is a lot more money than I will ever have, but I used to think that the music business was HUGE (can we still say that or has Trump polluted that word too?). How much is $30B going to be worth in 2030? Apple made $183B in 2014. That’s one company. And who is going to see that $30B? While labels are reporting revenue upticks due to streaming, artists like Taylor Swift are saying they get paid peanuts.
Please post numbers as you find them. Thanks. Ed Sheeran will likely debut at the top of the Hot 100 this week.
