Goldman Sachs: TikTok generation set to boost these music stocks as streaming surges

A TikTok logo seen displayed on a smartphone.Filip Radwanski | SOPA Images | LightRocket | Getty ImagesGoldman Sachs has said record labels and music publishers are set for a strong rebound as younger audiences continue to flock to TikTok to watch short videos.Songs feature heavily on TikTok, which saw downloads soar as the pandemic hit in early 2020. Newly-signed licensing deals with music publishers will provide a boost with scope for “significantly more upside” for the content owners, the bank’s analysts said.They see music industry revenues rising by 21% this year as live performances resume after the pandemic. The streaming surge on Spotify and other music platforms is also set to continue, the analysts said in a research note published Monday.Goldman picked two stocks in particular set to benefit from this rebound:


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