Taylor Swift Had A Monster Year, As Did The Music Industry - Global Recorded Music Revenue Grows 10.2% As Streaming Booms
Portfolio Pulse from Johnny Rice
Taylor Swift's record-breaking year contributed to the global recorded music revenue reaching $28.6 billion, a 10.2% increase YoY, with streaming being a major growth driver. The industry's success is also reflected in the performance of companies like Spotify, Apple, and Amazon, and the MUSQ Global Music Industry ETF, which includes a diversified portfolio of music-related assets.
March 27, 2024 | 7:40 pm
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POSITIVE IMPACT
Apple, as a major player in streaming services, likely benefited from the industry's growth, contributing to its revenue.
Apple's involvement in streaming services positions it to benefit from the overall growth in the music industry, likely contributing positively to its revenue and stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Amazon's streaming services are part of the booming music industry, potentially boosting its revenue and stock performance.
Given the growth in the music industry, Amazon's streaming services are likely to see increased usage and revenue, positively affecting its stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The MUSQ ETF, with diversified holdings in the music industry, including streaming and live events, is positioned to benefit from the sector's growth.
The MUSQ ETF's diversified holdings in streaming, live events, and other music-related sectors position it to benefit from the overall growth in the music industry, suggesting a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Sonos, as a device maker included in the MUSQ ETF, could see positive impacts from the growth in the music industry.
As a device maker included in the MUSQ ETF, Sonos is positioned to benefit from the increased consumption of music and streaming services, potentially positively impacting its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Sony, with significant involvement in the music industry and as part of the MUSQ ETF, is likely to benefit from the sector's growth.
Sony's significant involvement in the music industry, including its presence in the MUSQ ETF, positions it to benefit from the sector's growth, likely leading to a positive impact on its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Spotify added 31 million premium users and raised subscription prices by 10%, indicating strong growth and potential revenue increase.
The addition of 31 million premium users and a 10% price increase in most markets suggest a strong growth trajectory and potential for increased revenue, positively impacting Spotify's stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80