Music Publishing Market – Overview Of Key Market Forces Propelling and Restraini
Posted by chaitali12 on September 23rd, 2019
The music publishing industry is currently witnessing a course-altering transformation. With plummeting sales of physical albums, the future lies in the digital space. The report on the music publishing market tracks this evolution of the industry as it enters a new phase of revenue generation. Growth in the music publishing market has been dismal over the past five years, but with the advent of cutting-edge digital technologies and the entry of new artistes in the market, this scenario could change for the better soon. Corporate as well as consumer spending has seen an uptick in recent years, and this could augur well for the music industry.
The report broadly segments the music publishing market on the basis of geographical regions and type of license (reproduction license, synchronization license, public performance license, and folio license). The report on the music publishing market offers a comprehensive overview of the current trends, opportunities, growth factors and restraints. It draws on industry-leading databases to emerge with accurate forecasts for revenues (US$ as well as market CAGR (%)
Music publishing is a part of the music industry, and refers to acquiring copyrights of compositions, songs, lyrics, and other artistic works of an individual artiste or band. Music publishing comprises the following functions: Acquiring songs, administering copyrights, exploiting the artistic material to earn revenues, and protecting copyrights. The music publishing market is part of a multibillion-dollar industry, and has evolved remarkably in recent times.
Traditionally, a music publishing company would distribute music compositions via physical products such as cassettes and compact discs. But the last few years have marked a massive change in the way the music publishing industry functions. The sales of cassettes and CDs have nosedived, and this traditional market is being replaced by new revenue sources such as mobile music outlets, digital streaming, wireless music subscription services, and more. With more new songwriters and artists entering the music industry, the demand for music publishers, as well as the services provided by them, is expected to surge palpably.
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An upsurge in the global entertainment and media industry has been a key driver for the music publishing industry. The following benefits offered by music publishing companies to artistes will also impel growth: Established industry contacts, networking capabilities, advance payments, secured copyrights, publicity collateral and fixed contracts.
However, music companies could lose lucrative business opportunities to artistes who publish their own compositions and albums. Furthermore, the music publishing industry has, for years, been grappling with the issue of piracy that has erodes profit margins. Curbing piracy has become even more difficult in the digital age.
Based on license type, the market for music publishing has been segmented into: Reproduction or mechanical, public performance, synchronization, and folio license. The reproduction license segment is composed of physical and digital forms of distributing music. Public performances relate to music being broadcasted via media such as radio and live performances. Synchronization licensing pertains to music used in movies, music videos, TV, and other emerging media. The folio license, on the other hand, deals with the distribution of music in the written form (lyrics and music notation) on freely-accessible platforms. By geography, the market is composed of North America, Asia Pacific, Europe, and Rest of the World (RoW).Also See: Music Publishing, Publishing Market, Publishing Industry, Music Industry, Publishing, Music, Market
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