UMG’s Michael Nash thinks music subscriptions will be resilient to Covid-19 impact
Posted on: 24 avril 2020, by : Stuart Dredge

A flurry of recent reports have noted that in the initial weeks of the Covid-19 coronavirus lockdown, music streams declined. Should the industry be worried? Universal Music Group’s EVP of digital strategy Michael Nash has dampened down those fears.
“The subscription business, which is the big driver for revenue, is relatively stable based on its underlying dynamics. You’ve got the recurring billing relationship with the consumer, and so even if consumption’s down a little bit, the revenue that’s being divided up among the artists and labels is relatively constant,” he said yesterday.
Nash was speaking in an online panel that was part of the Artist Rights Symposium II, organised by the University of Georgia Music Business Program at Terry College of Business.
The post UMG’s Michael Nash thinks music subscriptions will be resilient to Covid-19 impact appeared first on Music Ally.
Source: Music ally

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