Enjoy complimentary customisation on priority with our Enterprise License!
The global music publishing market size is estimated to grow by USD 3.81 billion, at a CAGR of 8.95% between 2023 and 2028. The market growth and trends depend on several factors such as the growing global music industry, the rising number of music festivals and live events, and the rising internet and smartphone penetration.
The market research report forecasts include detailed analyses of the competitive landscape of the market research and growth and information about 15 market companies, including:
Believe, Bucks Music Group Ltd., Concord Music Group Inc., CTM Entertainment B.V., Deezer SA, DOWNTOWN MUSIC HOLDINGS, Hipgnosis Songs Fund Ltd., Influence Media Partners, Kobalt Music Group Ltd., Peermusic.com Inc., PRIMARY WAVE, Pulse Recordings, Round Hill Music LP, Sony Group Corp., Spirit Music Group, The Royalty Network, Universal Music Group NV, Warner Music Group Corp, and Wise Music Group
Figure 1: Market Share
Our researchers analyzed the data with 2022 as the base year, along with the market trends and analysis, drivers and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of music festivals and live events is the key factor driving the market. In the last few years, there has been growth in the popularity of such festivals, concerts, and entertainment events, especially among millennials globally. The large base of the young population, coupled with a surge in disposable income, has led more people to spend on such live events. Therefore, the increasing number of live performances and concerts by musicians, artists, dancers, and comedians will play a major role in driving the growth of the market during the forecast period.
Further, the UK has also witnessed a rise in the number of people attending live events. The country is home to internationally acclaimed festivals and concerts covering a diverse range of musical genres. Some popular music festivals that are organized in the US and the UK are Field Day, Glastonbury, Burning Man, and Coachella. The growth of the industry is anticipated to drive the demand for technologically advanced music synthesizers, which in turn will enhance market growth during the forecast period.
The growth of the advertising industry is the primary trend shaping the market. Mobile advertising is one of the popular methods of advertising. The rising adoption of smartphones and tablets worldwide is one of the major factors driving the growth of the digital market. Market players offer most downloading and streaming services free of cost for mobile devices. Mobile advertising is one of the major sources of revenue for digital music service providers, which is expected to drive the expansion of the market.
Additionally, advertisements with fitting music can positively impact advertising campaigns by garnering more customer attention. This results in the significant boost of visitor-to-lead conversion rates, customer acquisition, and website traffic. Therefore, businesses tend to invest significantly to implement marketing communication strategies effectively. This is expected to drive the growth of the market during the forecast period.
Decline in physical sales of music is a challenge that affects the market. Retail sales of CDs and digital music downloads have been declining since the arrival of music streaming in the market. Customers are reluctant to purchase single tracks when they can access the complete album through music streaming services. In 2020, approximately 257.2 million digital music singles were downloaded in the US. The sale of physical media, such as CDs, also declined in 2021 compared with the past five years.
Moreover, many users of digital downloads and CDs have switched to music streaming. Digital downloads are more feasible to use, transfer, or download data from any place or location, but in the case of CDs or physical devices, it can be possible. Moreover, the diminishing popularity of these conventional methods of music access, such as digital video discs (DVDs) and CDs, may impede market growth during the forecast period.
The live performance segment is estimated to witness significant growth during the market forecast period. The live performance segment is expected to witness significant gain in terms of market share compared with other segments due to the rising number of musicians, artists, and disc jockeys that have increased people interest in music. Also, the demand for live performances is increasing, owing to the increase in the number of live performances.
Figure 2: Market by Product 2024-2028
Get a glance at the market contribution of various segments View the PDF Sample
The live performance segment was the largest segment and valued at USD 1.68 billion in 2018. Moreover, Electric Daisy Carnival, Tomorrowland, New Orleans Jazz and Heritage Festival, Sziget Festival, Rock in Rio, and Liverpool Sound City are a few major live performances organized yearly. Globally, the number of live performance participants is increasing every year. Hence, the factors mentioned above are expected to propel the growth of the live performance segment of the market during the forecast period.
The commercial segment refers to the aspect of music publishing that involves the licensing and usage of music for commercial purposes. This includes activities such as advertising, live performances, broadcasting, gaming, and digital streaming platforms which are used to generate revenue. One significant factor of the commercial segment is the use of advertising campaigns. Advertisers and brands often license popular tracks to enhance the emotional appeal of their commercials and connect with their target audience. Additionally, digital streaming platforms form a significant part of the commercial segment. Publishers negotiate licensing deals with streaming services for the use of their catalog of songs, allowing for the commercial distribution of music to a global audience. Hence, such factors are expected to increase the adoption of music publishing in the commercial segment during the forecast period
Figure 3: Market by Region
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant expansion opportunities to companies is North America. The music publishing market in North America is growing significantly, owing to the increase in music publishing, especially by independent and traditional music publishing houses in the US.
Additionally, to gain a competitive edge, music artists synchronize music to become more innovative and creative with their albums. Furthermore, several vendors are strategically aligning among themselves in North America. Thus, such factors are anticipated to increase the demand for music publishing in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bertelsmann SE and Co. KGaA: The company offers music publishing services such as creative services, administration services, sync and digital licensing, accounting and reporting tools and more.
The market analysis and report, qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is undergoing transformative shifts propelled by advancements in wearable and wireless technology and the involvement of music business vendors as value chain enablers. With a diverse customer base and user base, the worldwide music publishing market intersects with the media and entertainment sectors, facilitating the buying and licensing of musical compositions' rights by songwriters, composers, and right holders. Royalties, including mechanical, performance, synchronization, digital, and others, are pivotal in song acquisition and copyright management to ensure copyright protection while selling and disseminating musical content.
Vocalists, publishing companies, and recording businesses engage in contract negotiations facilitated by music publishers, managing copyrights as assets in the media business landscape. Technological advances drive the proliferation of music streaming services like Spotify and Pandora, challenging traditional physical music sales models while confronting issues of piracy and unethical downloads through proxy sites. Amidst these changes, personalized assistance in managing music rights remains crucial for artists, musicians, and record labels navigating the complexities of the digital landscape.
Music Publishing Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.95% |
Market Growth 2024-2028 |
USD 3.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.58 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Believe, Bertelsmann SE and Co. KGaA, Bucks Music Group Ltd., Concord Music Group Inc., CTM Entertainment B.V., Deezer SA, DOWNTOWN MUSIC HOLDINGS, Hipgnosis Songs Fund Ltd., Influence Media Partners, Kobalt Music Group Ltd., Peermusic.com Inc., PRIMARY WAVE, Pulse Recordings, Round Hill Music LP, Sony Group Corp., Spirit Music Group, The Royalty Network, Universal Music Group NV, Warner Music Group Corp, and Wise Music Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.