20 Years Later, A New ‘Golden Age’ For Music Industry ?

Are we on the verge of a new ‘Golden Age’ ? After 20 years of continuous decay, the recorded music industry has been regaining some colours for the last couple of years, according to Medium‘s article. Thanks to streaming services like Spotify and Apple Music, which are dragging the whole industry back on its feet, the recorded music industry experienced 8.1% global revenue growth in 2017.

Music Industry Stats

And it seems to be just the beginning ! Macquarie‘s analysts predict that the market could double by 2025 to reach a record-breaking $30 billion ($17.3 billion today). Since 1999, it would be a monster comeback for an industry that’s been rocked for the last decade. The cause of this revenue growth will be the continued ascendance of streaming services. The analysts say :

"Streaming will grow to 50% of the market by mid-2019 and to 80% in 2025, based on our forecasts"

Here is a chart from Macquarie showing the predicted music industry growth :

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