GOLDMAN: STREAMING "REVOLUTION" TO DRIVE BIZ TO $104B
BY 2030

Revenues across the music-industry ecosystem will grow to a mind-boggling $104 billion by 2030, according to new estimates from Goldman Sachs Research, which describes the coming explosion as a “second digital revolution.”

Streaming will account for $14.1b of total record-label revenues, which are projected to hit $35.5b. And the percentage of catalog consumption will rise from 50% to 70% of this massive pie.

The biggest beneficiary of this colossal windfall is expected to be UMG, which has been valued at $23.5b. That’s $1b over the previous high valuation of $22.5b, which parent company Vivendi attributed to certain unnamed bankers back in April.

“Streaming is a massive game-changer for the recorded music industry, in the sense that it establishes a much more sustainable business model for the labels,” says Goldman Sachs analyst Lisa Yang.