Goldman Sachs estimates that generative artificial intelligence could contribute approximately $3.3 billion in additional annual revenue to subscription-streaming rights holders by 2035, according to its latest Music in the Air industry outlook. The projection represents roughly a 10% increase over the firm's baseline subscription-streaming revenue estimate and reflects opportunities for new AI-powered music services, licensing arrangements and premium creative features. The forecast forms part of a broader assessment of the music industry's growth through 2035, with Goldman Sachs expecting streaming subscription pricing and monetization to remain important revenue drivers.
The projected increase does not necessarily translate into higher earnings for every songwriter, publisher or recording artist. As AI-generated recordings compete for listening time, rights holders could face pressure on royalty distributions even if total streaming revenue expands. Licensing agreements covering AI model training and generated outputs may create new income opportunities, but the allocation of that revenue will depend on contract terms, attribution systems and the commercial success of AI music products. Goldman Sachs' forecast highlights the distinction between growth in the overall music market and the share of that growth ultimately captured by existing creators and catalog owners.
Join the discussion