![]() ![]() ![]() Virtual concerts should grow right alongside it. The music industry is expected to grow at a 12% annual rate through 2025 with live concerts fueling much of the expansion, according to PricewaterhouseCooper's Global Entertainment and Media Outlook report. And in July, Roblox signed a deal with Sony Music Entertainment to bring more of its artists to the platform. In August, it announced a strategic partnership with BMG to host a launch party for hip-hop artist KSI. Roblox is continuing to form relationships with the big music companies. In addition, the launch party for Zara Larsson broke records with over four million visits. Roblox reported that over 36 million people watched a live virtual concert with Lil Nas X. One of these opportunities is virtual concerts where Roblox has proven it has an engaged audience that wants to connect with artists. As Roblox expands its user base, it opens the door for new monetization opportunities that can significantly increase the value of the platform. The fastest-growing age group among older users is 17 to 24. Growing its older cohort is what Roblox must do if it's going to accomplish management's long-term vision of reaching one billion users. Roblox reported that users over 13 accounted for more than half (50.3%) of total engagement on the platform for the first time. In the second quarter, the business reached an important milestone in this effort. Developers are creating more mature content, and this has resulted in users over 13 years old growing faster than users under 13. Roblox has spent the last few years "aging up" to expand its market potential, and it's making progress. Roblox has been around for 17 years, but what's most encouraging about its growth so far is the fact the platform has primarily served a narrow demographic of users under the age of 13. ![]() So how much upside does the stock offer long-term investors? However, growth in daily active users slowed to 8% in July as the company laps the acceleration that occurred during the second half of 2020. ![]()
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