FEATURES / MUSIC
ON AN UPBEAT NOTE WORDS: LESLEY WRIGHT
WITH ANALYSTS FORECASTING GLOBAL MUSIC MARKET REVENUES HITTING $15BN BY 2030, GULF BUSINESS EXAMINES THE RAPIDLY CHANGING MUSIC INDUSTRY LANDSCAPE
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November 2022
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hile the ongoing vinyl resurgence is breathing new life into the traditional music format, the online environment and emerging technologies are responsible for seismic shifts in the music industry landscape. With fans today embracing classic, modern and futuristic methods of consuming music, coupled with the recovery of live events from the pandemic, the outlook for the global music business is upbeat. Financial giants Goldman Sachs forecast that global music market revenue – incorporating recorded music, music publishing and live events – will top $87.6bn by the end of this year and jump to $153bn by 2030. gulfbusiness.com
