Goldman has an 80-pg report on #COVID19’s impact on the music business — including an estimated 75% decline in live music revenue this year.
Encouragingly, they see a return to pre-COVID-19 levels by 2022, led by “Gen Z/ Millennial demand” and artists’ need for income
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Encouragingly, they see a return to pre-COVID-19 levels by 2022, led by “Gen Z/ Millennial demand” and artists’ need for income
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(2/x) it’s well understood that artists command a higher share of live-music income vs. recorded, but this chart really lays it out
(3/x) Goldman says recorded music will be the beneficiary — as streaming revenue booms, and as performance revenues are “affected by a significant decline in royalties from public use (concerts, bars, restaurants, gyms) ..”
(4/x) Finally, check this out: “Deep catalogue artists including the Beatles and Fleetwood Mac .. have seen a big increase in the number of streams in the US during March,” as surveys show fans are “listening less to new music and to more songs they already know.” 🔥
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