Music industry

Japan's music industry explores online concerts to cure virus blues

Concert cancellations began to roll in on February 26, the day Japanese Prime Minister Shinzo Abe requested citizens to avoid large cultural events. As of the end of May, 220 of his shows have been canceled. "We lost sales of 4.2 billion yen ($39 million) due to the cancellations," sighed Hayashi.

Nikkei Asian Review

This is how COVID-19 is affecting the music industry

The global music industry is worth over $50 billion, with two major income streams. The first, live music, makes up over 50% of total revenues and is derived mainly from sales of tickets to live performances.

World Economic Forum

Qui a dit que l'industrie musicale était morte et enterrée?

Goldman Sachs prévoit que le secteur dans son ensemble doublera en valeur d'ici à la fin de la décennie.

Korii

La industria del entretenimiento sufrirá perdidas de hasta $160 MDD en los próximo 5 años

Una de las industrias más afectadas por COVID-19 y que tardarán mucho en volver a levantarse es la del Entretenimiento.

Nightlife Mexico

Music industry to nearly double in value by the end of the decade

Analysts at Goldman Sachs said in a research note that live music would be “severely impacted” by the postponement and cancellation of events this year, leading to a 75% drop in revenue. But, over the longer-term, analysts at the bank expected a strong rebound.

CNBC

Post-Pandemic Music Industry Predictions: The Great Divide Between Embraced And Impacted

Many great articles are being written about how musicians can survive these unprecedented times, from how to host live concerts, learn platforms like Twitch and how fans can support artists, among others.

Forbes

Sales of Instruments and Music Gear Are Soaring. Will Quarantine Spark a Renaissance?

Defying the economic downturn, online business is booming for Apple’s GarageBand music software, as well as Sweetwater, Guitar Center, Reverb, and other retailers.

Rolling Stones

It’s going to be a long road for everybody to start seeing recovery in the live music industry

That’s the multi-billion dollar question on the lips of everyone who works in the business globally, as festivals, agencies and promoters deal with the fallout of losing what could be an entire year’s worth of income as a result of the coronavirus crisis.

Music Business Worldwide

L’industrie allemande de la musique demande 628 millions de dollars en financement d’urgence

Des groupes de l’industrie musicale allemande avertissent le public et les représentants du gouvernement qu’un «effondrement corona» se produira à moins que la communauté musicale ne reçoive une aide financière supérieure à 628 millions de dollars (582 millions d’euros).

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