According to the US entertainment and media outlook: 2016-2020, the music industry will continue to shift and evolve over the next five years.
While the music industry’s first stage of digital transition saw downloads overtake physical formats in terms of retail sales and revenue, the current stage has consumers moving away from ownership towards access. Subscription music services will soon be the primary form of paid content in revenue terms. Music also continues to benefit from an industry-wide shift in consumer spending towards experiences. Live music will continue its strong growth trajectory as fans increasingly show that they value (and will pay a premium for) real-life, physical entertainment.
PwC examines how technology, media, and telecommunications companies will prepare for further disruption.
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