Story perspectives

Emerging Markets Propel 60% of Global Streaming Growth

9/13/2025

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Summary

Story summary

Goldman Sachs notes that emerging markets have 8% streaming penetration, contributing to 60% of new subscriber growth.
Increased internet access in Africa, South Asia, and Latin America may boost revenue significantly.
Live music revenue is set to grow from $34.6 billion in 2024 to $67.1 billion by 2035.
Streaming subscriptions are projected to exceed 827 million globally by 2025, despite outdated royalty models.
Millennials and Gen Z are projected to spend $112 per capita on music in 2024, with superfans potentially generating an extra $4.3 billion annually by 2026.

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Story summary

Goldman Sachs notes that emerging markets have 8% streaming penetration, contributing to 60% of new subscriber growth.
Increased internet access in Africa, South Asia, and Latin America may boost revenue significantly.
Live music revenue is set to grow from $34.6 billion in 2024 to $67.1 billion by 2035.
Streaming subscriptions are projected to exceed 827 million globally by 2025, despite outdated royalty models.
Millennials and Gen Z are projected to spend $112 per capita on music in 2024, with superfans potentially generating an extra $4.3 billion annually by 2026.