Reports COVID-19

Recession Impact Music Industry 2020 Growth Scenarios

Report by Mark Mulligan
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As part of MIDiA’s research stream focused on how XXX 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.

Key Insights

  • Prior to XXX global music industry revenues totalled XXX billion in 2019, higher than the 2000 peak of XXX billion
  • In 2000 recorded music (in retail terms) was XXX of all music industry revenues, with live just XXX By 2014 live had increased its share to XXX while recorded, (in retail terms), had fallen to XXX paused the long-term growth trend. MIDiA’s base-case growth scenario forecasts a XXX fall in music revenues in 2020 with our bear case being a fall of XXX our three growth scenarios live music is the main factor pulling down revenues, operating at XXX of revenue capacity in 2020, XXX in 2021 and XXX in 2022
  • In our base case scenario, music publishing will experience its first sector-wide decline in over a decade, falling by XXX with additional falls carrying through to 2021
  • The MIDiA base case for recorded trade revenues is a XXX decline, with performance, sync and physical’s XXX decline cancelling out streaming’s growth
  • Subscriptions are resilient but not immune to recessionary pressures with increased churn likely if unemployment levels rise and consumer spending power falls

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