Following years of scarily fast decline, the global recorded music industry will bounce back to be worth more than $40 billion in 2030 due to streaming growth, according to the latest forecasts from Goldman Sachs. Analysts reckon streaming will account for a huge $34 billion of that total, with $28 billion coming from paid subscription services such as Spotify and Apple Music, and $6 billion coming from ad-supported offerings.
The music industry will pick up a further $4 billion in performance rights and $500 million from synchronisation, while physical recordings and digital downloads will deliver $700 million.
For that deeper dive:
Amazon is rolling out a new multi-room feature for its Echo devices enabling consumers with more than one Echo to control where their music is played – TechCrunch
David Bowie racks up 1 billion Spotify streams – Music Week