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  "documentTitle": "Sony Corporation (6758.T)",
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      "kind": "callout",
      "text": "Music industry has significant growth runway driven by streaming penetration",
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      "text": "In the US, consumers aged 16-24 listen to over 50% of their music via streaming vs. only ~10% for consumers over 45 years old\nStreaming revenues in emerging markets are small relative to developed markets",
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      "text": "Confidence in the growth of recorded music revenues driven by age preferences and low global penetration rates",
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      "text": "Source: AudienceNet Music Landscape Study 2018. n=2,849; Source: Deutsche Bank; MIDIA, Newzoo",
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