The Music Publishing Market Reach USD 13.7 Billion by 2032 Growing with 7.8% CAGR

Allied Market Research published a new report, titled, " The Music Publishing Market Reach USD 13.7 Billion by 2032 Growing with 7.8% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

While more people across the globe have a phone and have access to the internet, they increasingly choose to find and listen to music. With a greater number of people listening to music, there are additional opportunities to license songs for music publishers. Moreover, emerging economies are another promising arena for the music industry. Such people now have more disposable incomes and are more willing to pay for streaming services. These factors have further propelled the growth of the market across the globe over the years.

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The global music publishing market was valued at $6.8 billion in 2023, and is projected to reach $13.7 billion by 2032, growing at a CAGR of 7.8% from 2024 to 2032.

The market for music publishing has grown rapidly and several trends have influenced them. The most impactful factor includes the growth of possibilities digital music consumption provides. Various streaming services such as Spotify, Apple Music, or YouTube Music allow the consumers to choose from the thousands and thousands of songs and albums to listen to at a current moment. In turn, music publishers receive money from their content viewed as royalties. Similarly, the rapid urbanization of emerging economies in Asia and Latin America has contributed to the expansion of the middle class, which automatically boosts the need for music content owing to the rich cultural heritage and diverse musical genre across these regions. Moreover, easy access to new music online, which is a result of the surge in the number of smartphones and increased internet connectivity across the globe, is likewise helping the music publishing market to grow.

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The way people listen to music has evolved with the emergence of digital streaming services such as Spotify, Apple Music, and YouTube Music. Publishers now have additional revenue streams, thanks to streaming royalties as a result of this change. Owing to globalization of music consumption, publishers now have more options for international music licensing. Similarly, the need for music to be synchronized with visual media has increased as the film, television, advertising, and gaming industries grow. A significant part of negotiating and enabling these sync licenses is played by music publishers.

Moreover, technological innovations such as blockchain-based rights management systems and AI-driven recommendation algorithms have revolutionized the ways in which music is found, shared, and made money from. For publishers to remain competitive, these changes must be accommodated. In addition, the rise in number of independent publishers and artists, enabled by social media and digital distribution channels, has transformed the music industry. Smaller companies are now able to compete with major publishers and labels owing to decentralization. Thus, these factors contribute to the growth of the global music publishing market.

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By region, the music publishing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in 2023. The presence of several established music publishing companies in North America along with their increasing investment in acquiring new licensing contracts and expanding globally is contributing to the growth of the market across the region.

The major players operating in the music publishing market include Universal Music Group (UMG) , Sony Music Entertainment, Warner Music Group, Concord Music Group, and BMG Rights Management. Other players in the music publishing market include Kobalt Music Group, Disney Music Group, Atlas Music Publishing, Wixen Music Publishing., Super Cassettes Industries Private Ltd. and so on.

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Key Takeaways

● The music publishing market size study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.

● Several product literatures, industry releases, annual reports, and other such documents of major music publishing industry participants along with authentic industry journals, associations' releases, and government websites have been reviewed for generating high-value industry insights.

● The study integrated high-quality data, professional opinions & analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global music publishing market share and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.

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