Good opinion article right here
Long story short, Wall Street has recently acknowledged a significant slowdown in streaming growth, a trend already evident to those in the music industry. Universal Music’s recent report of reduced streaming revenue growth led to a sharp drop in its market valuation. Despite this, Universal’s overall revenue grew by 9% due to strong physical music sales, like vinyl records. While streaming remains a crucial revenue source, its growth has plateaued in saturated markets like the US, and competition from other services like Amazon’s music has intensified. Universal is working on new strategies, including a super-premium subscription tier on Spotify, to reignite growth. Although the industry faces challenges, it is still in a better position compared to other entertainment sectors, and Universal is optimistic about future prospects.
