Wise man said music is mathematics. So, it’s tightly connected to figures and facts. Amadei has collected most important figures about music industry in Q1 of 2020.
What’s going on now
Streaming has grown up to 26.2% with around 26.6 million units. The growth is steady, but slightly slower compared to Q4 in 2019 (29.5%)
Total music consumption has shown 8.2% increase. In Q4 2019 this rate has shown only 2% increase. So, we are catching a wave.
Physical albums (yes, someone is still buying them) selling were down 19.8%. Digital albums suffered even worse decline: 27.3% with over two million units sold/downloaded.
What will happen?
Goldman Sachs calculated possible prognosis and future of music economy. Something is bright, something is not.
Live music will suffer 75% decline by the end of 2020 (guess why). On the other hand, total music revenue will grow up 25% by the end of the year.
At the end of decade, analysts expects total $142 billion revenue. Online streaming will cap 1.2 billions users at the end of 2030
What does it mean? Keep on making music, music is eternal. Think about online streaming, try to develop this way. Amadei will help you anyway