We are in a transformative era of music technology.
The music industry will continue to experience growth throughout the decade, with total music revenue reaching approximately $131 billion by 2030, according to Goldman Sachs. This lucrative business is built on streaming but also witnessing an unprecedented surge in innovation and entrepreneurship in artificial intelligence.
With over 300,000 tech and media professionals laid off since the beginning of 2023, according to TechCrunch, a new wave of talent has been funneled into music tech startups.
This influx, coupled with the dramatic decrease in cloud storage costs and the global rise of developer talent, has catalyzed the emergence of many startups (over 400 that we have tracked) dedicated to redefining the music business through AI. (Billboard)