PWC: Streaming, Live Concert Revenue To Grow Most In 5 Years
June 12, 2014 at 4:50 PM (PT)
PRICEWATERHOUSE COOPER has offered its five-year US entertainment and media outlook on the music industry and it concludes that we can anticipate plenty of movement over the next five years. The Outlook results most notably spotlight the differences between growth potential for the streaming and downloading of digitally recorded music as well as live music.
While downloading of music will remain the largest area of revenue and continue to grow (albeit slowly) streaming of live music will see the greatest growth. Live music will have a slow but healthy rebuilding of revenue due to an increase in both ticket sales and sponsorship, and it will become the second largest revenue stream for the US music industry.
* Streaming, which has risen 14.5% rate to $1.7 million, will account for 37% of total digital recorded music revenues in 2018, up from 23% today.
* Digital download sales will grow 0.1% to 2018
* Live Music Sponsorship will grow 2.5% to 3.2 billion
* Live Music Ticket sales will grow 3.7% to $8.3 billion