Recession Impact Music Industry 2020 Growth Scenarios
As part of MIDiA’s research stream focused on how is impacting the entertainment industries, this report explores how the combination of lockdown measures and the coming recession will impact music industry revenues in 2020.
- Prior to music industry revenues totalled billion 2019, higher than the 2000 of billion
- In 2000 music (in retail terms) was all music industry revenues, with just By 2014 live had its share to while recorded, retail terms), had fallen to paused the long-term growth trend. MIDiA’s base-case growth scenario forecasts a fall in music revenues in 2020 with our bear case being a fall of
- In our growth scenarios live music is main factor pulling down revenues, at of revenue capacity in in 2021 and in 2022
- In our case scenario, music publishing will its first sector-wide decline in a decade, falling by with falls carrying through to 2021
- The MIDiA case for recorded trade revenues a decline, with performance, sync physical’s decline cancelling out streaming’s
- Subscriptions are but not immune to recessionary with increased churn likely if levels rise and consumer spending falls