The global music streaming market is projected to reach 41.4 billion by 2030. Despite music streaming services seeing less revenue for every song streamed, investment analytics are confident in the steady growth of this sector.
A key question is the tension between consumer demand and pricing strategies moving ahead. Lately, several major music streaming services have implemented price hikes for their regular offerings for the first time in a decade. According to Goldman Sachs’ annual Music in the Air forecast, “We believe that such price increases are not just a one-off, and we would expect the industry to work towards implementing price increases on a recurring basis, especially in an environment of higher inflation.”
