PUBLISHER: Allied Market Research | PRODUCT CODE: 1566874
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566874
Music Publishing Market
The music publishing market was valued at $6.8 billion in 2023 and is projected to reach $13.7 billion by 2032, growing at a CAGR of 7.8% from 2024 to 2032.
Music publishing is a business activity which involves the promotion and monetization of music. The person responsible for the promotion of music is known as a music publisher who ensures the provision of royalty to songwriters and creates further opportunities for the performance and recreation of music pieces. The most critical role in music publishing is the management of song rights and licenses for further use of musical composition.
Rise in the popularity of music streaming platforms has boosted the consumption of music, increasing the necessity of content licensing and royalty collection. This is a key driver of the music publishing market. In addition, surge in the prevalence of copyright issues has boosted the adoption of music publishing services, ensuring the protection of musical rights. Diversification of revenue streams is a key trend acquiring traction in the music publishing market recently. The publishers are granting licenses to use musical compositions in video games, TV shows, commercials, and movies. Furthermore, the trend of live performances by singers is gaining significant popularity, hence accelerating the revenue generation.
However, the music industry is highly fragmented with several small and big artists and publishers. This creates intense competition in the market and leads to pricing pressures, hampering the growth of the music publishing market. Furthermore, compliance with the licensing agreements in the international markets is an intricate and time-consuming task, which constraints the market growth. Contrarily, as the music industry sales continue to increase globally, the music publishing market is poised for lucrative opportunities. According to the 2024 Global Music Report by the International Federation of the Phonographic Industry, revenue generated by the music industry in 2023 was approximately $28.6 billion, which was 10% higher than the 2022 revenue. These increasing sales opened new avenues for the music publishing market.
Segment Review
The music publishing market is segmented into type of rights, revenue source, application, and region. On the basis of type of rights, the market is divided into mechanical rights, performance rights, and synchronization rights. Depending on revenue source, it is classified into royalties, licensing, and subscription. As per application, it is bifurcated into commercial and common pool. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of type of rights, the mechanical rights segment was the highest shareholder in 2023.
Depending on revenue source, the royalties segment acquired a high stake in the market in 2023.
As per application, the commercial segment dominated the market in 2023.
Region wise, North America was the highest revenue generator in the market in 2023.
Competition Analysis
The leading players operating in the global music publishing market include Universal Music Group (UMG), Sony Music Entertainment, Warner Music Group, Concord Music Group, BMG Rights Management, Kobalt Music Group, Disney Music Group, Atlas Music Publishing, Wixen Music Publishing., and Super Cassettes Industries Private Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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