Skip to main content

Music Industry Execs Cautiously Upbeat

The mood of music industry executives and observers has turned more upbeat and bullish -- or at least so it seemed at the annual Billboard Music & Money Symposium held recently in New York City.

In the same forum last year, former Sony BMG CEO Andrew Lack, who recently was pushed into the chairman post, expressed doubt over the near-term outlook for music industry momentum, proclaiming that "three to four years from now, we are lucky if we land where we were two years ago."

However, this year's event heard some cautiously optimistic tones. After increasing revenue by 1.5 percent at his firm in 2005 to $5.8 billion with profits of $570 million, Universal Music Group chairman and CEO Doug Morris said he expected further erosion of the physical CD business and increase of the digital business over the next five years.

Popular posts from this blog

The $4 Billion Opportunity for Satellite IoT

In an era where wireless connectivity is pervasive, Satellite Internet of Things (IoT) can change industries, offering leaders unprecedented opportunities to drive efficiency and innovation. As industries across the globe seek to enhance operational efficiency and sustainability, satellite IoT emerges as a pivotal enabler. According to a worldwide study by ABI Research, the Satellite IoT market is forecast to reach $4 billion by 2030, with over 26 million connections anticipated. "Prominent satellite IoT providers such as Inmarsat, ORBCOMM, Globalstar, Myriota, and hiSky have been actively working together with their partners to expand their service offerings and enhance connectivity solutions," said Jake Saunders, vice president at ABI Research . Satellite IoT Market Development The satellite IoT market's expansion is largely fueled by its application across key verticals, including agriculture, energy and utilities, fisheries and aquaculture, and environmental monitorin