The 2023 report on the “ Music Publishing Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Music Publishing Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. The process of music publishing is buying the rights to musical works from songwriters, composers, or other right holders and distributing those rights to third parties as licenses. It has been noted that mechanical, performance, synchronization, digital, and other royalties account for most of the revenue from music publication. Along with song acquisition, copyright management, and copyright protection, music publishing also has other responsibilities to complete. The global market growth is driven by growing Adoption of Digital Music and growing popularity of music streaming services.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the RIAA, streaming encompasses a range of forms, including paid subscriptions, ad-supported music streaming services, digital and customized radio, and licensing for music on Facebook and digital fitness applications. The disclosure covers US TikTok music earnings, utilizing labels’ creative efforts to license new applications, services, and formats.
These revenues, which made up a comparable 83% of total sales in 2021 as they did in 2020, climbed by 24% to a total of USD 12.4 billion, according to Airnow. To the opposite, YouTube Music was the top downloaded music and audio app globally in the Google Play Store in June 2022, according to Airnow. More than 9.42 million Android users downloaded the streaming service. The second-most downloaded music and audio app was Shazam, with almost 4 million downloads from global users. However, decline in physical volume sales stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Music Publishing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is dominating the market growth owing to presenting the highest opportunity for artists to showcase their talent and growing trend of music festivals in the United State. However, Latin America growing at fastest CAGR rate in the forecast years.
Major market players included in this report are:
BMG Rights Management
Sony Music Publishing LLC
Black River Entertainment
Kobalt Music Group.
Universal Music Publishing Group
Round Hill Music
Warner/Chappell Music Inc.
Reach Music Publishing
Pulse Recordings Inc
Big Yellow Dog Music
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Recent Developments in the Market:
Sony Music Publishing, one of the most important singer-songwriters of all time, announced in March 2021 that it had acquired the unmatched song catalogue of Paul Simon. The sale contains Paul Simon’s classic tunes from over six decades. In October 2021, Sony Music Publishing announced a partnership with White Hill Music Pvt Ltd., an Indian music and film production company, to offer White Hill Music worldwide publishing services, including as management, synchronisation, and library promotion. Additionally, opportunities for global collaboration will be provided by Sony Music Publishing.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Royalty:
Performance
Synchronization
Digital Revenue
Physical Revenue
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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