Music Publishing Market size was valued at USD 6.0 billion in 2022 and is expected to reach USD 9.0 billion by 2029, at a CAGR of 6.0% from 2023-2029. Wearable and wireless technology are becoming increasingly popular in the music publishing industry. These devices are extremely useful in concerts and live performances since they allow mobility. Most music business vendors collaborate with value chain enablers to gain easy access to and reach the customer base, allowing for music listening through these mediums and a large user population. Moreover, the number of artists and live performances is directly related to the growth of the worldwide music publishing market. Also, the music publishing market is primarily driven by the rise of the media and entertainment industries.
The surge in popularity of music streaming services such as Spotify and Pandora have decreased physical music sales. However, an increasing number of artists throughout the world and the most recent technological advancements in music are driving the music publishing market. The need for music publishers is significant. Many artists and musicians want personal service from music publishers to help them handle their music, copyrights, and other issues. In addition, the media sector has done well in recent years as consumers have shifted to digital channels. Furthermore, customers have begun to ignore unlicensed music in favor of paying for it, increasing revenue streams for the entertainment sector. The ability to network, copyright, set contracts, and establish business contracts makes it profitable for artists. These are the key factors that have been recognized as contributing to the market's growth. Music publishing businesses are implementing product expansion initiatives in developing countries to expand their customer base. For example, in February 2019, Spotify, a Swedish audio streaming service, launched in India.
Fastest Growing Market
The increase in the number of concerts and live performances around the world. For instance, In 2019, about 50 major music festivals held in the United States alone are driving the market. While technology contributes to growth, it is a part of the industry, and record labels are enhancing and harnessing it. The music publishing sector has benefited from a boom in the worldwide entertainment and media industries. Advance payments, protected copyrights, publicity material, and fixed contracts are all advantages of having established business contacts; these factors propel the market. However, various restrictions may impede the growth of the music publishing market, and piracy of original content has been a significant problem for the entertainment industry for many years.
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Music Publishing Market size was valued at USD 6.0 billion in 2022 and is expected to reach USD 9.0 billion by 2029, at a CAGR of 6.0% from 2023-2029.
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