Favorable demographic trends and technology will fuel growth in the music industry: Goldman SachsThe bank said they expect streaming services to continually raise their subscription prices.
AI will also help artists create music at higher speeds and lower costs, the bank said.
The business side of the music industry is constantly evolving, especially as technology develops.
On streaming, the analysts see continued price hikes coming from streaming services as their subscription fees have remained relatively stagnant despite the services becoming more popular.
Goldman SachsGoldman SachsThe analysts also said the streaming industry could better monetize "superfans" by charging them more for improved versions of their services.
Persons:
Goldman Sachs, Lisa Yang, Goldman Sachs Goldman Sachs, Millenials
Organizations:
Spotify, Netflix, Apple Music, Amazon Music