Wednesday, June 3, 2020

Kobalt chairman thinks publishing revenues will dip in 2020 | Music Ally

Recently, Goldman Sachs published a report with new predictions for music industry revenues in 2020, Covid-19 impact included. It forecast a 75% drop for live music revenues, but growth of 3% for recorded music and 3.5% for music publishing in 2020. Kobalt founder and chairman Willard Ahdritz isn’t so sure.

“Overall I do believe that publishing will short-term be actually negative this year,” said Ahdritz in a Midem keynote interview published this morning. “Just because sync will be more hurt if you have a good, big sync business. The live performance [royalties drop] will affect this, and also the [royalties from] restaurants and bars. Having said that, I think we are going to bounce back and have a 20% growth next year in publishing, overall.” He disagreed with Goldman Sachs’ predictions on recorded music too, but for different reasons. “I think they are too conservative! The business has moved so much online, with streaming, so I think we are going to see a bigger growth than they are seeing, on that point.” The full session is available from the Midem Digital Edition website.

Stuart Dredge


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