By Jem Aswad Senior Music Editor Investment giant Goldman-Sachs has been one of the great cheerleaders for the revival of the music industry, and its projections played no small role in some of the industry’s recent successes — not least Universal Music Group being valued at $33.6 billion as part of its sale of 10% to Tencent.
However, the coronavirus pandemic has knocked the wind out of many formerly rosy projections for the music industry, largely due to the virtual shutdown of the live-entertainment business.
And although Goldman’s latest “Music in the Air” report projects a 25% drop in global music revenue in 2020 — and a 75% revenue plunge for the live industry this year, to $7 billion — it also expects a “strong rebound” in the
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