# Goldman Sachs urges music industry to prioritize fan sales

> Goldman Sachs says direct-to-consumer music sales could grow to hundreds of millions by 2036.
- Title: Goldman Sachs urges music industry to prioritize fan sales
- Summary: Goldman Sachs says direct-to-consumer music sales could grow to hundreds of millions by 2036. Goldman Sachs' Music in the Air report shows direct-to-consumer…
- Keywords: goldman sachs, music industry, direct-to-consumer, d2c, streaming, superfan tier, even platform, music, business, Goldman, Sachs, urges
- Source: Music Business Worldwide — https://musicbusinessworldwide.com/goldman-sachs-just-told-the-music-industry-to-sell-to-fans-first
- Published: 2026-10-30T08:47:31+00:00
- Read time: 1 min
- Topics: goldman sachs, music industry, direct-to-consumer, d2c, streaming, superfan tier, even platform, music, business
## Goldman Sachs report
Goldman Sachs published Music in the Air report on October 15, 2026.
## Direct-to-consumer growth
Goldman Sachs estimates digital D2C revenue at tens of millions today, potentially reaching hundreds of millions by 2036.
## D2C doesn't cannibalize streaming
Artists running direct-to-fan windows ahead of DSP releases grow total music revenue without reducing streaming activity.
## Superfans pay more
Nearly half of fans voluntarily pay above the artist-set minimum for superfan tiers.
## D2C builds fan relationships
D2C creates direct relationships with fans through chart eligibility, data access and catalog monetization.
## J. Cole's campaign
J. Cole's The Fall-Off campaign signed up 600,000 fans ahead of a tour presale that sold over 800,000 tickets.
## Goldman revises assumptions
Goldman Sachs is revising superfan spending assumptions upward and expects digital D2C to grow as the market matures.
## Key takeaway

Goldman Sachs' Music in the Air report shows direct-to-consumer music sales could reach hundreds of millions by 2036, with artists gaining pricing power and fan relationships.