Music in the Air: 10 Years On: Recomposing the Narrative Around AI, Pricing, and Opportunities in Ad-Supported and D2C

Summary

• Ten years after the original Music in the Air, the industry's investment debate has shifted from streaming adoption to monetization.
• Goldman Sachs Research assesses opportunities & risks surrounding Generative AI.
• The report reexamines the ad-supported monetization opportunity.
• An evaluation of the emerging direct-to-consumer ecosystem is included.
• Long-term industry forecasts have been updated.
• An investment framework across the global music value chain is outlined.
• The narrative focuses on AI, pricing, & opportunities in ad-supported & direct-to-consumer models.