The optimistic visions of a post-pandemic music industry were bolstered this week by some impressive earnings results from some of the industry's bellwethers.
Spotify Stock's Rally: Too Far Too Fast? (Variety)
So far in 2020, Spotify stock is up nearly 70% and more than 100% since the March lows. Meanwhile, the S&P 500 gained 4% this year and more than 50% from the market bottom.
Marc Geiger: Covid-19 Will Give Way To The Roaring (20)20s (IQ Mag)
The global industry has lost around 75% of its value this year, but will recover to around 65% of its pre-Covid level in 2021. The recovery will likely be complete in 2022.
BMG Posts Solid First Half of 2020, With Revenue Jumping 4.8% and Streaming Up 26% (Billboard)
The company said that the growth of digital helped it to outpace the pandemic downturn, with digital now accounting for 59% of revenue, up from 56% in the first half of 2019.
