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DUBLIN, May 16, 2023 (Globe Newswire) — Global Music Publishing Market 2023-2030 report added of ResearchAndMarkets.com Recruitment.
Global music publishing market is valued at $5.7 billion in 2022 and is projected to reach $9 billion by 2030, registering a CAGR of 6.7% during the forecast period (2023-2030) .
The growing music industry around the world is one of the key drivers behind the growth of the music publishing market. Growing interest in and passion for music among people, especially the younger generation, has led to an increase in the number of concerts and live performances being held around the world, which directly drives the growth of the market.
This growth is further fueled by the growing demand for EDM (electronic dance music), which attracts large audiences. The success of his EDM music festivals, including Miami’s Ultra Music Festival and Mexico’s Bartenders, Promoters and Musicians (BPM) Festival, has spurred the growth of live music worldwide.
Due to such factors, the major players operating in the market are also adopting strategies, especially partnerships and mergers, to remain competitive.
For example, in May 2022, digital collectibles marketplace LimeWire announced its first major music label partnership with Universal Music Group (UMG) to work together to make digital music collectibles accessible to a wider audience. Announced.
Outlook by segment
The global music publishing market is classified on the basis of royalty. Based on loyalty, the market is sub-segmented into performance, sync, digital revenue, physical revenue, and others.
Among these, the digital revenue sub-segment is expected to serve a prominent market share during the forecast period as consumers are migrating from physical music to digital music.
Digital revenue sub-segment expected to hold prominent share in global music publishing market
The digital revenue sub-segment is expected to hold a prominent share in the global music publishing market during the forecast period.
The music industry began a streaming recovery a few years ago, but the songwriting and publishing community criticized the unfair payment structure of streaming (right holders of recorded music are paid three times as much as they were published). It has opposed unbalanced power. Payment structure in the music industry.
Music publishers are primarily responsible for obtaining and registering copyrights to songs under the law, and for promoting and authorizing the use of those songs in recordings, radio, television, film, live performances, print, or other media. I am involved in
regional outlook
North America is expected to hold a sizeable share of the global music publishing market due to the widespread acceptance of digital distribution of music.
Asia-Pacific expected to hold prominent share in global music publishing market
When it comes to music publishing, North America is one of the fastest growing regions in terms of revenue. North American music publishers are gaining momentum in sheet music sales, and revenues are rising.
The United States held the highest share of the global music publishing market. This growth is being driven by the country’s large number of independent and traditional music publishers, offering artists the greatest possible opportunity to showcase their talents. Several partnerships have materialized in the region.
Atlas Music Group has signed a global management and marketing agreement with Memory Lane Music Group. Nashville music industry veteran Jody Williams has launched Jody Williams Songs, a joint publishing venture with Warner Chappell Music Nashville. Additionally, the growing trend of music festivals in the United States is expected to further impact revenues from performance licenses. There are currently about 800 music festivals in the United States.
The US market is highly competitive, with large and small music publishers. Publishers are therefore under pressure to release more albums each year 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 participant outlook
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.
Market players have contributed significantly to the growth of the market by adopting various strategies such as mergers and acquisitions, partnerships, collaborations, funding, and new product launches to remain competitive in the market.
For example, in March 2021, Sony Music Publishing acquired the unparalleled Paul Simon song catalog, one of the most important singer-songwriters. The acquisition includes over 60 years of Paul Simon classics.
Some of the companies mentioned in this report include:
- Abkco Music and Record Co., Ltd.
- Atlas Music Publishing LLC
- Bertelsmann SE and Co. KGaA
- big yellow dog music
- black river entertainment
- BMG Rights Management
- Broadcast Music Co., Ltd.
- Concord Music Group Co., Ltd.
- A group company of Downtown Music Holdings
- Hypnosis Songs Fund Co., Ltd.
- Cobalt Music Group Inc.
- Peer Music Co., Ltd.
- Reach Global Co., Ltd.
- Roundhill Music LP
- Sony Group Corporation
- Sound Exchange Co., Ltd.
- Super Cassette Industry Co., Ltd.
- walt disney company
- Universal Music Group NV
- Warner Music Group Corporation
- Wixen Music Publishing Inc.
Main topics covered:
1. Overview of the report
1.1. Research methods and tools
1.2. Market Breakdown
2. Market Overview and Insights
2.1. Report scope
2.2. Analyst Insights and Current Market Trends
3. Competitive environment
3.1. Major company analysis
3.1.1. Overview
3.1.2. Financial analysis
3.1.3. SWOT analysis
3.1.4. Recent developments
3.2. Analysis of Key Strategies
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 Income
4.1.5. Miscellaneous
5. Regional analysis
5.1. North America
5.1.1. America
5.1.2. Canada
5.2. Europe
5.2.1. United Kingdom
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 profile
For more information on this report, please visit https://www.researchandmarkets.com/r/rvz8n0.
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