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 (%)
Overview of the Music Publishing Market
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.
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).
Companies mentioned in the music publishing market report
Participants that have conventionally dominated the music publishing industry are: Sony/ATV Music Publishing LLC, Universal Music Publishing Group, and Warner/Chappell Music, Inc. The other prominent players include: Broadcast Music, Inc., Avatar Publishing Group, Criterion Music Corporation, and Super Cassettes Industries Private Ltd.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.