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The Future of Music Streaming: How Services Will Evolve and Compete

Music streaming services have revolutionized the way we listen to music, but they are also facing some challenges and opportunities in the near future. In this article, we will summarize some of the key insights from a recent report by Goldman Sachs, which analyzes the current state and future trends of the music streaming industry.

- Based on a Goldman Sachs Intelligence Report, published on July 31st, 2023

One of the main findings of the report is that music streaming services are on the cusp of a major structural change, as they shift from being pure distributors of music to becoming more involved in the creation and promotion of music. This means that streaming services will have to invest more in original content, exclusive deals, live events, podcasts, and other forms of entertainment that can attract and retain users.

Another important trend is that music streaming services will have to compete more aggressively with each other, as well as with other platforms that offer music, such as social media, gaming, and video. This will require streaming services to differentiate themselves by offering more personalized and interactive features, such as playlists, recommendations, social sharing, and gamification.

TikTok has launched a music service in a few countries and might become a serious challenger to the traditional DSP's such as Spotify, Apple Music and others.

The report also predicts that music streaming services will continue to grow in terms of users and revenues, especially in emerging markets where smartphone penetration and internet access are increasing. However, the report also warns that streaming services will face some challenges, such as regulatory issues, licensing costs, piracy, and user churn.

In conclusion, music streaming services are not only changing the way we consume music, but also the way music is created and distributed. The industry is undergoing a significant transformation that will have implications for artists, labels, publishers, and consumers. To read the full report by Goldman Sachs, click here.


Summary by the New Bing!


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