Music Publishing Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: ICTM240321 | Research Suite: Report (PDF) & Market Data (Excel)
The global music publishing market was valued at USD 5.4 billion in 2022, and a CAGR of 6.8% is expected during the forecast period. The growing global music industry, increasing number of live events all over the world, and rising number of music festivals, along with rising internet and song penetration worldwide, are driving the growth of the market significantly.
The music publishing market involves the licensing, promotion, and administration of musical compositions. Collecting royalties, negotiating licensing deals, and protecting intellectual property rights for songwriters and composers. The increasing popularity of music as an entertainment medium is driving demand worldwide. The increasing number of singers worldwide is another factor behind the growth in the field. Increasing technological advancements and the increasing popularity of music live streaming services such as Spotify and Pandora are the main reasons behind the growth in the market.
Impact of Covid-19
COVID-19 has had a negative impact on the music publishing
market, as most of the events were cancelled due to the pandemic outrage. Most
of the artists had to stay at home due to stringent lockdown and physical
distancing. Due to disruptions in the supply chain and economic uncertainty,
the music publishing market had to face a slowdown. But later on, with some
relaxation in lockdown, the market again started to grow rapidly. The
increasing number of artists all over the world is driving the growth of the
market significantly. An advanced data analytics tool allows music publishers
to better understand consumer preferences, optimize content distribution
strategies, and identify new revenue opportunities. The increasing trend of digital
platforms all around the world is driving the growth of the market
significantly.
Growth Drivers
The shift towards digital formats has expanded the reach of music, allowing publishers to distribute content globally through streaming platforms, online stores, and digital licensing agreements. The rise of subscription-based streaming services like Spotify, Amazon, and Apple Music has led to significant market growth. The increasing trend of smartphones and increasing internet penetration have driven the demand for music. The use of music in advertisements, films, TV shows, video games, and other media has become a significant revenue source for music publishers through sync licensing agreements.
Concerts, festivals, and live events continue to be lucrative revenue streams for music publishers, as they often require licensing agreements for the use of copyrighted music. Collaborations between music publishers, artists, and other industry stakeholders lead to innovative revenue-sharing models and the development of new markets and opportunities. Stricter enforcement of copyright laws and the implementation of digital rights management systems help protect the intellectual property of music publishers, ensuring fair compensation for their work.
Segmentation
By Product
·
Performance
·
Digital
·
Synchronization
·
Mechanical
By Application
·
Commercial
·
Commonweal
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and Africa
Music Publishing Market by Application
Segmentation
On the basis of the application, the music publishing market is segmented into commercials and others. Licensing music for public performance, such as in concerts, on radio, TV, or in public spaces like restaurants and shops. Managing and licensing music for online distribution, including streaming platforms, digital downloads, and social media. Licensing music for use in synchronization with usual media such as movies, TV shows, commercials, video games, or online videos.
The increasing number of digital platforms
worldwide is driving demand in the music publishing market. The use of music in
advertisements, films, TV shows, video games, and other media has become a
significant revenue source for music publishers through sync licensing
agreements. Concerts, festivals, and live events continue to be lucrative
revenue streams. The increasing number of artists all over the world and the
increasing number of digital platforms were driving the growth of the market
significantly. Live concerts and other events are increasing post-pandemic.
Performance in these live programs is the key factor on which the success of
the market depends heavily.
Regional Outlook
On the basis of the regions, the music publishing market is segmented into 5 parts: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Due to the strong digital streaming market, North America and Canada are dominating the music publishing market and are expected to dominate in the future. Countries like the United Kingdom, Germany, and France have established music publishing industries with a focus on both local and international repertoires.
The European Union’s regulatory framework, including copyright laws and licensing agreements, also influences the market. Emerging markets like China, Japan, and South Korea are also experiencing rapid growth due to increased internet penetration, rising disposable income, and a growing interest in western and local music. Brazil and Mexico are key players in the Latin American music publishing market, with a rich musical heritage and a growing digital music landscape. Piracy and regulatory issues are acting as a hindrance to market growth.
Increasing interest of people in digital platforms is the main reason behind the significant growth in the market. The Middle East and Africa music publishing market encompasses a diverse array of musical styles and genres. Reflecting the rich cultural heritage of the region. The market includes traditional forms of music as well as contemporary genres such as pop, hip-hop, and electronic music. With the increasing digitization and growth of streaming platforms, the region’s music publishing industry is evolving rapidly, presenting both opportunities and challenges.
Globalization
of music market had an opportunity to grow their distribution network
internationally through the globalization. The presence of key players in
Europe and North America is the key factor behind the growth in the region.
AI-powered recommendation engines and powerfully crafted playlists are fueling
the need for a personalized music experience. The rising number of music
festivals and live events is driving the growth of the market significantly.
The increasing young population all over the world is driving the growth of the
market. The increasing number of people attending live events is driving the
growth of the market.
Key Players
·
Sony Music Publishing LLC
·
Universal Music Publishing Group
·
Kobalt Music Group
·
BMG Rights Mgmt.
·
Warner/Chappell Music Inc
·
Peer Music
·
Pulse Music Group
·
Downtown Music Services
·
Round Hill Music
· Other Players