Two years ago, Goldman Sachs issued a report which whipped up global excitement over the future of the record business — most particularly, the future of the three major music rightsholders, Universal Music Group, Sony Music Entertainment and Warner Music Group.
The headline was an exciting one: Goldman’s report forecast that global recorded music industry revenues would more than double by 2030, with annual streaming sales reaching $28 billion by the same date.
The investment banking community certainly paid attention to Goldman’s optimism; witness the ever-escalating valuations of Universal Music Group which have followed.
The headline was an exciting one: Goldman’s report forecast that global recorded music industry revenues would more than double by 2030, with annual streaming sales reaching $28 billion by the same date.
The investment banking community certainly paid attention to Goldman’s optimism; witness the ever-escalating valuations of Universal Music Group which have followed.
- 5/31/2019
- by Tim Ingham
- Rollingstone.com
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