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  "documentTitle": "Third Point Management | Activist Presentation Deck | 102 slides",
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  "authorName": "Third Point",
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  "presentationDate": "2019-06-01 00:00:00",
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  "notes": "The charts use a stacked area format to visualize the transition from physical/download to streaming revenue over time.",
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      "kind": "chart",
      "text": "Recorded music revenue by type (% of Total)",
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      "text": "For all 3 of the major labels, today streaming revenue accounts for ~45% of total recorded music revenue\nBy 2021, streaming will account for ~60-65% of recorded music revenue for all 3 labels",
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      "text": "Source: Company reports and Third Point estimates",
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      "kind": "title",
      "text": "The big 3 labels (UMG, Sony, Warner) all have very similar revenue mix profiles",
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