Huge growth industry expected, thanks to streaming services

Huge growth industry expected, thanks to streaming services

Photo: Thinkstock

The turnover of the global music industry is partly due to paid streaming services a lot in the elevator.

That sets the American investment bank Goldman Sachs, which estimated that the total turnover of the industry grows to more than 34 billion euros per year in 2030.

The lion’s share of that revenue, an estimated 28 billion euros, will come from paid streams. The income from performances and concerts will increase in thick three billion euros per year. Goldman Sachs also expects the record labels, Sony and Vivendi a significant value will rise if followed revenue growth.

In 2016, revenues rose from muziekverkopen in the United States to 9.5 billion euros, an increase of fifty percent compared to 2015. It was the first time in twenty years that the music industry such growth showed. The illegal downloading and copying of records already print for many years, left his mark on the music sales.

The netherlands

Last year it also became evident that the Dutch music industry will see its sales significantly increase due to a large growth in the use of streaming services. In the first six months of 2016 provided streaming services to a total of 40 million euros. In the same period in 2015, this was only 26.4 million euro.

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