An analyst forecasted that streaming will account for $34 billion of the total revenues.
The global recorded music industry will grow into a nearly $41 billion behemoth by 2030, thanks largely to the growth of streaming, according to Goldman Sachs analyst Lisa Yang and her team.
The Goldman Sachs analyst further predicts that streaming will account for $34 billion of that, of which $28 billion will come from paid subscription while $6 billion will come from ad-supported streaming services. She predicts that another $4 billon will come from performance rights, synchronization will be $500 million, physical and downloads $700 million and other come in at $1.2 billion.
The report further states that thanks to the explosion of streaming, the Universal Music Group and Sony Music Entertainment should carry hefty valuations. Both companies are themselves not listed in the stock market, but the shares of their parents, respectively Vivendi and Sony. Corp., are publicly traded.