The music economy is heading into its own version of the roaring 20s. Streaming last year accounted for well over half of global music industry revenue. Successful subscription models have unlocked wealth on an eye-watering scale for companies such as Spotify. After a year of rapid growth, the Swedish giant is now worth $60bn. Famous artists such as Dylan can more or less name their price, and investors are benefiting from the most bullish of bull markets. Hipgnosis floated only two years ago, but has already reached a market capitalisation of $1.25bn. The major labels are quids in too. Universal, Sony and Warner were making almost $20m a day even before Covid accelerated the digitalisation of everyday life… More here.
This is being looked at more and more now which is a good thing.