Originally published on Technavio: Forecast 2024-2028: Global Music Publishing Market Analysis - Trends, Drivers, and Challenges

 

Summary:

The Global Music Publishing Market is anticipated to witness substantial growth, with an estimated increase of USD 3.81 billion at a robust CAGR of 8.95% from 2023 to 2028. This comprehensive report provides detailed insights into market dynamics, trends, and challenges, fueled by factors such as the expanding global music industry, the surge in music festivals and live events, and the increasing internet and smartphone penetration.

 

Market Overview:

Emerging as the fastest-growing segment, the metals and minerals sector took the lead with a valuation of USD 5.36 billion in 2018. The report delves into high industrial power tariffs, the shift towards renewable energy sources, and challenges associated with coal shortage for captive power generation.

 

Market Trends:

A key trend influencing market growth is the rise of the advertising industry, particularly in mobile advertising. The widespread adoption of smartphones and tablets globally has driven digital market growth. Offering most downloading and streaming services free for mobile devices, market players capitalize on mobile advertising as a major revenue source for digital music service providers.

 

Furthermore, the integration of fitting music into advertisements enhances advertising campaign effectiveness. This positively impacts visitor-to-lead conversion rates, customer acquisition, and website traffic, driving market growth in the forecast period.

 

Major Market Challenges:

A challenge impacting the market is the decline in physical sales of music, witnessed in the diminishing popularity of CDs and digital music downloads. The advent of music streaming has contributed to declining retail sales of CDs and digital downloads. Users are now inclined towards music streaming services, resulting in reduced sales of physical media like CDs and DVDs. This shift may impede market growth during the forecast period.

 

Market Segmentation:

The live performance segment is poised for significant growth during the forecast period, attributed to the rising number of musicians, artists, and disc jockeys, increasing people's interest in live music. Major global live performances, such as Electric Daisy Carnival, Tomorrowland, and New Orleans Jazz and Heritage Festival, contribute significantly to this segment's market share.

 

Application Analysis:

The commercial segment, involving licensing and usage of music for commercial purposes, is a significant aspect of music publishing. Advertising campaigns, live performances, broadcasting, gaming, and digital streaming platforms generate revenue within this segment. Licensing popular tracks for advertising campaigns and negotiating deals with streaming services are key drivers for commercial music publishing growth.

 

Regional Analysis:

Asia-Pacific (APAC) is projected to contribute 30% to global market growth, driven by regional trends and drivers. North America, particularly the US, is a region offering substantial expansion opportunities, with the market witnessing significant growth due to increased music publishing by independent and traditional houses.

 

Market by Region

 

Music Publishing Market Share by Geography

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Major Companies and Competitive Insights:

Companies are adopting diverse strategies, including alliances, partnerships, mergers, acquisitions, expansions, and product/service launches, to bolster their market presence.

 

The report provides detailed competitive landscape analyses of 15 market companies, facilitating a qualitative and quantitative understanding of their strengths and weaknesses. Companies are categorized based on focus and dominance for a comprehensive evaluation.

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The market is undergoing transformative shifts propelled by wearable and wireless technology advancements, with music business vendors playing vital roles as value chain enablers. The global 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, encompassing mechanical, performance, synchronization, digital, and others, are pivotal in song acquisition and copyright management to ensure copyright protection while selling and disseminating musical content.

 

The report highlights the dynamic landscape where vocalists, publishing companies, and recording businesses engage in contract negotiations facilitated by music publishers. Managing copyrights as assets in the media business landscape, these entities navigate complexities amid technological advancements that challenge traditional music sales models. The report emphasizes the importance of personalized assistance in managing music rights for artists, musicians, and record labels amid the complexities of the digital landscape.

For more information please contact.

Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/