Making Money from Music

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The music industry has entered a new phase of financial maturity. Once seen as volatile and hit‑driven, the sector is now increasingly viewed as a stable, data‑driven asset class - and the latest research and stock performance indicators show why. Investors are no longer just betting on artists; they’re betting on structural shifts in streaming, live events, and music rights. The signals from the market are clear: music is becoming one of the most resilient entertainment investments of the decade.

Music rights: a low‑cyclical, high‑resilience asset

Goldman Sachs’ Music in the Air 2025 report paints a compelling picture. The global music market reached US$40.5bn in 2024, with projections rising to US$110.8bn by 2030, driven by robust growth across recording, publishing, and live events . Even with short‑term slowdowns, the long‑term trajectory remains strong. Music rights, in particular, are described as “remarkably structurally resilient”, offering recurring cash flows and low cyclicality - a rare combination in today’s economy.

For investors, this positions music rights as a defensive asset class, comparable to infrastructure or real estate in terms of predictability.

Streaming stocks: scale, stickiness, and subscriber growth

Streaming remains the engine of industry expansion. Spotify, the sector’s bellwether, reached 281 million paid subscribers in Q3 2025, growing 12% year‑on‑year, with more than 700 million monthly active users overall . This scale gives streaming platforms enormous pricing power and long‑term leverage, even as ARPU varies across global markets.

The stock market reflects this confidence. Spotify’s market cap sits at US$94.4bn, and its subscriber growth continues to outpace competitors. Investors are effectively betting on the durability of subscription models and the global expansion of digital entertainment.

Live events: a post‑pandemic powerhouse

Live Nation’s record ticket sales signal another trend: live music is booming. The live segment is projected to grow from US$34.6bn in 2024 to US$52.6bn by 2030 . As touring becomes a primary revenue source for artists, companies controlling venues, ticketing, and promotion are positioned for strong returns.

The rise of stock music and the creator economy

A parallel investment frontier is emerging in stock music. The global stock music market, valued at US$1.45bn in 2024, is projected to reach US$2.4bn by 2030, growing at a CAGR of 8.76% . Demand is driven by AI‑enhanced music creation, subscription licensing models, and the explosive growth of video, gaming, and online content.

This segment benefits from predictable licensing revenue and the expansion of the global creator economy - a structural tailwind unlikely to slow.

Market markers

Across rights, streaming, live events, and licensing, the signals are consistent:

• Music is becoming a long‑horizon, low‑volatility asset class.
• Subscription and licensing models provide recurring, predictable revenue.
• Global growth - especially in Asia‑Pacific - is accelerating.
• Diversification across segments (rights, live, streaming) reduces risk.

The stock market isn’t just optimistic about music - it’s recognising the industry’s transformation into a data‑driven, subscription‑anchored ecosystem with durable global demand.

For investors, the message is clear: music is no longer a speculative bet. It’s becoming a strategic one.