Recorded music has been steady so far. But that doesn’t mean the majors are pandemic-proof.
Record labels were expecting another year of heady revenue growth, with no end in sight — until the coronavirus arrived and shutdown large swaths of the global economy. Now, as the live-music business considers when, and how, to reopen, labels are trying to figure out what the pandemic means for them.
The rise of subscription streaming that has fueled most of the growth in recent years continues to be a bright spot amid the pandemic. While many executives remain hopeful that the stability of streaming revenue can carry record labels on its back until things return to normal, most record companies are diversified and could face declines in their other businesses, including publishing and merchandise.
Looking ahead, record labels are pushing back some releases later in the year. But what happens if all the delayed releases don’t come out; or if too many releases come out in the fourth quarter, causing some key releases to miss revenue projections in the glut? That could also hurt revenue projections, which is why most labels are playing it safe and projecting 2020 revenues to be flat to slightly down.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Amoeba Music, largest independent record store in the US, appeals for funds to survive the pandemicAmoeba Music, the largest independent record store in the country, is turning to its legion of fans and loyal customers to help raise funds as it struggles to make it through the coronavirus pandemic
Leer más »
Vikings select record 15 players in seven-round draftThe Minnesota Vikings set an NFL record on Saturday by selecting 15 players over the course of a seven-round draft.
Leer más »
Record breaking heat settles in the SouthwestWEATHER: A storm system moving through the Mid-Atlantic and Northeast is bringing heavy rain and occasional gusty winds from Illinois to New England this morning.
Leer más »
Buy Gold Now? How Stimulus Packages Will Drive Gold Prices To Record Highs | What’s AheadOn a Friday episode of WhatsAhead, Steve elaborates on what triggered the global gold rush, whether this safe asset still represents an opportunity and if the trillions being spent to save the economy are stoking fears of inflation
Leer más »
Italy unveils punishing public debt, deficit forecastsItaly's government forecasts that its economy will plunge into a deep recession this year, with gross domestic product retracting by 8 percent
Leer más »
Republicans See Attacking China As A Winning StrategyA new memo from the NRSC doubles down on the Trump campaign’s strategy of addressing coronavirus by attacking China and labeling Democrats soft on China.
Leer más »