The Town with Matthew Belloni Has the Music Industry Peaked?
12 snips
Aug 5, 2024 
Lucas Shaw, a Bloomberg journalist specializing in music industry trends, joins to dissect the recent dip in Universal Music Group's stock and what it means for the future. They explore whether the slowdown in streaming revenue is a temporary hiccup or a new reality. The conversation dives into the competitive landscape, highlighting the rise of indie labels and the industry's dependency on tech giants like Spotify. They also touch on innovative pricing strategies to better monetize music and cater to passionate fans.
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Music Industry Decline and Partial Revival
- The music industry's revenue drastically declined due to digital piracy and failure to adapt.
- Streaming services partially revived the industry, but growth has now slowed.
UMG Stock Drop and Slowing Growth
- Universal Music Group's stock dropped after its CFO admitted that high growth in music streaming is over.
- This signifies a potential plateau for the music industry.
Music Industry's Dependence on Tech
- The music industry partnered with tech companies like Spotify, Apple, Amazon, and Google due to their inability to adapt to digital.
- This dependence on large tech companies now poses challenges.