Lisa Yang
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- Goldman Sachs27 min
The music industry’s turning point
Goldman Sachs projects the global music industry will exceed $150 billion by 2030, driven by a resilient 8–10% annual growth rate fueled by streaming expansion, vinyl resurgence, and rising demand in non-English markets. The report identifies critical structural shifts including planned subscription price increases, the emergence of "superfan" monetization strategies, and ongoing debates over AI integration and royalty reforms to address revenue concentration among the top 5% of artists. While live events have fully recovered from pandemic losses and independent artists gain ground, the sector faces a turning point where major labels must leverage multimedia licensing and global regional trends to sustain growth despite increasing content volume and commercialization barriers.