Music industry earnings Q3 2022 Pre-recession growth
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The early 2020s saw an influx of capital into the music business, with the promise of music rights being an asset class that was uncorrelated with the wider economy. The irony is that as music catalogue investments slowed (due to rising costs of capital), the first nine months of 2022 saw the music business deliver a performance that suggests the industry is indeed setting a path that is not being pulled down by recessionary conditions as much as many other industries. There were areas of concern of course, but the overall picture proved to be a positive one.
Companies and brands mentioned in this report: Believe, Live Nation, LiveXLive, NetEase Cloud Music, Pandora, SiriusXM, Slacker, Reservoir Media, Sony Music Group, Sony Music Publishing, Spotify, Tencent Music Entertainment, Universal Music Group, Universal Music Publishing, Warner Chappell, Warner Music Group, YouTube
Note: The figures in this report refer to revenues and user numbers for the first nine months of 2022, rather than full year projections.