Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Global Music Publishing Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global music publishing market was valued at $5.7 billion in 2022, and is projected to reach $9.0 billion by 2030, registering a CAGR of 6.7% during the forecast period (2023-2030)
The growing music industry across the globe is one of the key drivers supporting the growth of the music publishing market. The growing interest in music and passion for music among people, especially the younger generation has increased the number of concerts and live performances held globally, which is directly bolstering the market growth.
This growth is further driven by the growing demand for EDM (electronic dance music), which draws large crowds. The success of EDM music festivals such as Ultra Music Festival in Miami and the Bartenders, Promoters, and Musicians (BPM) Festival in Mexico is spurring the growth of live music globally.
Owing to such factor, the key players operating in the market are also adopting strategies such as collaborations and mergers, among others to stay competitive.
For instance, in May 2022, LimeWire, a digital collectibles marketplace, announced that it had struck its first major music label partnership with Universal Music Group (UMG) and will collaborate on making digital music collectibles accessible to a wider audience.
Segmental Outlook
The global music publishing market is segmented based on royalty. Based on the royalty, the market is sub-segmented into performance, synchronization, digital revenue, physical revenue, and others.
Among these, the digital revenue sub-segment is expected to cater to a prominent market share over the forecast period, owing to the consumers' shift from physical to digital music.
The Digital Revenue Sub-Segment is Anticipated to Hold a Prominent Share of the Global Music Publishing Market
The digital revenue sub-segment is anticipated to hold a prominent share of the global music publishing market over the forecast period.
The music industry began its streaming-fueled recovery a few years ago, and the songwriting and publishing communities have been opposing the uneven payment structure of streaming, which sees recorded-music rights holders being paid three times what publishing is paid, and the imbalanced power and payment structures of the music industry.
Music publisher companies are primarily involved in acquiring and registering copyrights for musical compositions under the law and publicizing and authorizing the use of these compositions in recordings, radio, television, motion pictures, live performances, print, or other media.
Regional Outlooks
North America is expected to hold a considerable share of the music publishing market across the globe, owing to the wide acceptance of the digital distribution of music.
The Asia-Pacific Region Is Expected To Hold Prominent Share in the Global Music Publishing Market
With regard to music publishing, North America is one of the fastest-growing regions in terms of revenue. North American music publishers are gaining momentum with sheet music, adding more revenue.
The USA contributed the highest share of the global music publishing market. The growth is driven by numerous independent and traditional music publishing houses in the country, offering the maximum opportunity for artists to showcase their talent. The region witnessed several partnerships.
The Atlas Music Group has made a global administration and marketing deal with Memory Lane Music Group. Nashville music industry veteran Jody Williams launched Jody Williams Songs, a joint publishing venture with Warner Chappell Music Nashville. In addition, the growing trend of music festivals in the United States is expected to further influence revenues from public performance licenses. Currently, there are about 800 music festivals in the United States.
The market in the United States is highly competitive, with both small and large music publishing houses present. This puts publishing houses under pressure to increase the number of albums they release yearly without sacrificing quality. The country is also shifting consumer preferences away from physical and digital sales. This factor is expected to help the market grow.
Market Players Outlook
The major companies serving the global music publishing market include Sony Music Publishing LLC, Universal Music Publishing Group, Warner/Chappell Music Inc., Broadcast Music Inc., Concord Music Group Inc., and others.
The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
For instance, in March 2021, Sony Music Publishing acquired the song catalog of the incomparable Paul Simon, one of the most significant singer-songwriters. The acquisition includes Paul Simon's classic songs spanning more than six decades.
A selection of companies mentioned in this report includes
- Abkco Music and Records Inc.
- Atlas Music Publishing LLC
- Bertelsmann SE and Co. KGaA
- Big Yellow Dog Music
- Black River Entertainment
- BMG Rights Management
- Broadcast Music Inc.
- Concord Music Group Inc.
- Downtown Music Holdings Group of Companies
- Hipgnosis Songs Fund Ltd.
- Kobalt Music Group Ltd.
- Peermusic Inc.
- Reach Global Inc.
- Round Hill Music LP
- Sony Group Corp.
- SoundExchange Inc.
- Super Cassettes Industries Ltd.
- The Walt Disney Co.
- Universal Music Group NV
- Warner Music Group Corp
- Wixen Music Publishing Inc.
Key Topics Covered:
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Music Publishing Market by Royalty
4.1.1. Performance
4.1.2. Synchronization
4.1.3. Digital Revenue
4.1.4. Physical Revenue
4.1.5. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rvz8n0
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