Record labels are seeing slower growth from streaming. But growth is still growth.
Welcome to the latest episode of Music Business Worldwide's Talking Trends, supported by Voly Music.In this episode, MBW founder Tim Ingham discusses the recent quarterly results of music industry giants such as Universal Music Group, Sony Corp, Warner Music Group, and Believe.Ingham notes that Q2 2022 saw something of a consistent slowdown in streaming revenue growth for the 'Big Three' major record companies.With macro-advertising spends set to drop in the months ahead, Ingham suggests that we now may be moving into a new era for the majors when it comes to streaming growth.Says Ingham: "It looks to me like we’re seeing the first signs of a new chapter for the recorded music industry: single-digit recorded music streaming revenue rises, following years of double-digit growth across the board."Music Business Worldwide's Podcasts are supported by Voly Entertainment (previously known as Voly Music).