YouSaid · the spoken record

Mark Mulligan

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5
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2023-08-18
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2023-08-18
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  1. “I think obviously there are other things which are likely to happen in our report. We do argue that the industry will be facing a very interesting turning point with significant changes to take place in the coming months and coming years when it comes to the migration of music content and to the segmentation of the different offerings, but also changes to the role to payout system. So there's actually a lot that we are expecting. But having said that, again, our forecast for the next decade hasn't really changed. We still think the industry will continue to grow at about some high per year, which 1.2 billion paid subscribers by 2030. And that will come from ongoing increase in stream penetration growth. And in addition to that, a big difference versus historically is we're going to start to see more recurring price syncreases. That's a big catalyst that we're going to be waiting for. Then you're going to add on top of that the mediation of the super fans, which we don't even.”

    2023-08-18 · Goldman Sachs Exchanges · The music industry’s turning point · IDENTIFIED FROM THE TRANSCRIPT

  2. “And that enables them just to make money out their music, which is not something that was even possible previously. Having said that, when you actually look at the revenue concentration in the industry and when you look at the concentration in terms of consumption, it's still heavily skewed towards the top. So 95%, I think, of the revenue GBT not Spotify comes from less than 5% of its RT. So while it has never been easier, I think, for artists to upload their music and being discovered and they broke on you, it's just harder, I think, to really break out as a global artist and to maintain that commercial success over a long period of time. I think that becomes more difficult as you still continue to face new competition every single day.”

    2023-08-18 · Goldman Sachs Exchanges · The music industry’s turning point · IDENTIFIED FROM THE TRANSCRIPT

  3. “Think with the fall in the burials of music crocodile and distribution, we've seen a growing number of artists uploading songs onto the streaming platforms, making revenue out of the streaming platforms like Spotify or TikTok or YouTube. I think we've really seen the democratization of music with the growth of streaming. So for instance, there are more than 200,000 artists now on Spotify and they upload 120,000 songs every single day. And what this means is if you're a smaller artist, obviously what independent artists means is like either you're assigned to independent label, but then you also have what we call the DIY artists and they all basically don't have any label and very often they are basically semi-professional artists. So what basically the platforms like Sportify and YouTube and TikTok have really allowed is the emergers of basically this new category of artists who don't necessarily have a label.”

    2023-08-18 · Goldman Sachs Exchanges · The music industry’s turning point · IDENTIFIED FROM THE TRANSCRIPT

  4. “I think you're absolutely right. The role of the record label has changed dramatically over the last decade and to some extent has tried to follow changes in technology. So clearly the way you now discover an artist has completely changed. Previously, you were sending scouts to concerts, pubs and clubs to try to find the next artist. And now it's all about data. It's all about how many followers you have on Instagram, how many monthly views you have on TikTok and YouTube. I just think the nature of what they do has just changed and adapted to incorporate increasing the use of technology and data. Similarly, the barriers to content creation has completely changed and distribution as well. So I think where the value add of a rock label has changed, I think it's really in helping artists break out at the global level. Because what this means in terms of obviously falling various distribution content.”

    2023-08-18 · Goldman Sachs Exchanges · The music industry’s turning point · IDENTIFIED FROM THE TRANSCRIPT

  5. “The music industry is on the verge of another major structural change, so what should listeners, artists, and industry professionals expect over the years to come? The industry will be facing a very interesting turning point with significant changes to take place in the coming months and coming years when it comes to the wineration of music content, segmentation of the different offerings, but also changes to the role to payout system. I'm Alison Nathan and this is Goldman Sachs Exchanges.”

    2023-08-18 · Goldman Sachs Exchanges · The music industry’s turning point · IDENTIFIED FROM THE TRANSCRIPT