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COVID-19 fast forwards streaming

  • Multi Asset
  • TMT
  • Europe

The way we listen to music has transformed over the past decade, and now COVID-19 is playing a part in amplifying these patterns. “There have been increases in consumption. A lot of people are spending more time listening to music”, a former president at Warner Music Group Corp told Third Bridge Forum. However, among the noise caused by the pandemic, there is a collection of notable trends that investors should pay attention to – from nascent global markets to music catalogue segmentation.

Asia is home to various regions where music streaming is picking up, and notable among these is India. With the world’s second-largest population, standing at approximately 1.3 billion people, and an increasing middle class, there is a huge market to explore – and one that a former associate director at JioSaavn Ltd believes is still predominantly “untapped”. Indeed, one estimate puts the total number of unique subscribers in the country at 200 million. And the pandemic is pushing even more people towards consuming music this way. “While people are locked down, we’ve seen that huge surge in streaming platforms and that’s given a huge chunk of new users to a lot of platforms.”

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