Get the latest gossip
Streaming and Live Music May Escape the Brunt of Trump’s Tariffs. But One Industry Sector Is Getting Hit Hard.
The Trump tariffs' effects on the music industry, from streaming to live music, may not be too harsh. But ad-dependent radio could be hit hard.
For many U.S. media stocks, the direct impact of tariffs is “relatively muted,” wrote Citi analysts in an April 7 report, as many of the companies rely on discretionary spending, not ad revenue. As Billboard has notednumerous times in recent weeks, investors are attracted to music assets because they are counter-cyclical, meaning they don’t follow the typical ups and downs of the economy. But by introducing the tariffs, the Trump regime exposed one of radio’s greatest weaknesses as a business: a greater exposure, due to its reliance on advertising, to the state of the wider economy.
Or read this on Billboard