Business News Digital Labels & Publishers

William Morris Endeavor’s Geiger predicts $100 billion music industry

By | Published on Tuesday 4 February 2014


Away from YouTube’s drubbing at MIDEM, a little more optimism in the form of a keynote from William Morris Endeavor’s Global Head Of Music Marc Geiger, who shared his vision of a $100 billion a year global music rights industry.

He said: “Most people are streaming most of their content without knowing it. This is all changing in front of our very eyes. Files are becoming obsolete … If we don’t all yell and push and say: ‘No. Don’t buy the file. Don’t buy the CD. Actually, sign up to Spotify’, I think we are dead”.

Geiger also posited that over the next fifteen years, streaming subscriptions will increase to an average of $15 per month, rather than falling as some have suggested they need to. “The history of subscription models is that they start cheap and go upwards. Always”, he said. At this point, he predicts, income from streaming services will top $100 billion, and we can all start dumping luxury cars in swimming pools again.

OK, he didn’t actually say that last thing about the swimming pools, but you can see the rest of what he said here: