{"id":115227,"date":"2024-11-25T06:06:15","date_gmt":"2024-11-25T11:06:15","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/11\/25\/global-music-copyright-value-soared-to-45-5-billion-in-2023-2\/"},"modified":"2024-11-25T06:06:15","modified_gmt":"2024-11-25T11:06:15","slug":"global-music-copyright-value-soared-to-45-5-billion-in-2023-2","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/11\/25\/global-music-copyright-value-soared-to-45-5-billion-in-2023-2\/","title":{"rendered":"Global Music Copyright Value Soared to $45.5 Billion in\u00a02023"},"content":{"rendered":"

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\n\tThe value of global music copyright reached $45.5 billion in 2023, up 11% from the prior year, according to the latest annual industry tally<\/a> by economist Will Page<\/strong>. When Page first calculated the value of various music copyright-related revenue streams in 2014, the figure was $25 billion\u2014meaning music copyright could double in value in ten years.\u00a0<\/p>\n

\n\tRecord labels represented the largest share of global music copyright with $28.5 billion in 2023, up 21% from 2022. Streaming grew 10.4% and accounted for the majority of labels\u2019 revenue. Physical revenues fared even better, rising 13.4%, while vinyl record sales improved 15.4%. Globally, vinyl is poised to overtake CD sales \u201csoon,\u201d Page says. CD sales are still high in Japan and across Asia, but Page points out that vinyl is selling more units at increasingly higher prices. \u201cIt\u2019ll easily be a $3 billion business by the next [summer] Olympics\u201d in 2028, he says.<\/p>\n

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\t\t\t\t\tWhy Subscription Growth Is the Barometer for Major Label Success in\u00a02024\t\t<\/p>\n<\/h3><\/div>\n

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\n\tCollective management organizations that collect royalties on behalf of songwriters and publishers had revenue of $12.9 billion, up 11% from the prior year. In a sign of shifting economic influence, live performances now pay more to CMOs than general licensing for public performances. Additionally, CMOs\u2019 digital collections exceeded revenues from broadcast and radio, reflecting the extent to which streaming has usurped the power of legacy media. A decade ago, digital made up just 5% of collections while broadcast accounted for half.\u00a0<\/p>\n

\n\tIn another shift in the industry\u2019s power dynamics, publishers collected more revenue from direct licensing than they received from CMOs. These royalties are a combination of \u201clarge and broadly stable income like sync and grand rights and fast-growing digital income,\u201d says Page. \u201cPublishers prefer direct licensing as it means they see more money\u00a0faster,\u201d he explains. A song that spikes in mid-March, for example, takes 201 days to pay the artist and 383 days to pay the songwriter. \u201cWhat\u2019s more,\u201d he adds, \u201ca third of that [songwriter] revenue can disappear in transaction costs\u201d in the form of administration fees charged by various CMOs.\u00a0<\/p>\n

\n\tWhile some parts of music copyright suffered during the pandemic\u2014namely public performance revenue\u2014music has surged since 2020 to overtake the brick-and-mortar movie business. In 2023, music was 38% larger than cinema. That marked a massive shift since pre-pandemic 2019, when cinema was 33% bigger than music. Over the last four years, music grew 44% while cinema shrank 21%. The true difference between music and cinema is even greater: Page\u2019s music copyright numbers account for trade revenue that goes to rights holders and creators. The cinema figures in his head-to-head comparison represent consumer spending. Of cinema\u2019s $33.2 billion in box office revenues in 2023, only half goes to distribution, according to one analyst\u2019s estimate.<\/p>\n

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\t\t\t\t\tIndies Own Nearly Half the Global Recorded Music Market. The Major Labels Aren\u2019t Taking It\u2026\t\t<\/p>\n<\/h3><\/div>\n

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\n\tPage\u2019s report covers the totality of revenue generated by both master recordings and musical works. He removes double-counting \u2014 mechanical royalties that are counted as revenue by both record labels and music publishers, for example \u2014 and fills in the gaps in more focused industry tabulations by the IFPI, CISAC and the International Federation of Music Publishers. <\/p>\n

\n\t\u201cAnyone trying to capture the attention of policymakers who doesn\u2019t grasp the threat posed by AI, for example, may find it handy to have a big number showing what\u2019s at stake,\u201d he wrote in the report.<\/p>\n

\n\tFor large, Western music companies, the globalization of music has opened new markets to their repertoire. Page\u2019s report looks at the reverse effect: the value of developed streaming markets to artists in less wealthy countries. North America and Europe, regions dominated by subscription revenue, accounted for 80% of the value of streaming growth but just 48% of the increase in the volume of streaming. In contrast, Latin America and Asia (less Japan), where streaming platforms get far less revenue from each listener, accounted for 12% of streaming\u2019s value growth compared to 46% of its streaming activity gains.\u00a0<\/p>\n

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\t\t\t\t\tUniversal Music Group Had Revenue of $3.2 Billion in Q3, a Gain of 4.3% Year Over\u00a0Year\t\t<\/p>\n<\/h3><\/div>\n

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\n\tTo artists from Latin America and Asia, fans in markets where streaming royalties are higher can be lucrative. For example, the nearly $100 million of streaming revenues generated by Colombian artists such as J. Balvin and Shakira inside the U.S. was six times greater than those streams would have been worth in their home country. This \u201ctrade-boost\u201d of $78 million was worth more than the entire $74 million Colombian recorded music industry. Similarly, Mexican artists\u2019 streams inside the U.S. were worth $350 million in 2023\u2014$200 million more than had those streams come from Mexico. \u00a0<\/p>\n

\n\t\u201cLet\u2019s remember,\u00a0 Mexico and Colombia are just two examples exporting\u00a0to just one market,\u201d says Page, who co-authored a paper<\/a> in 2023 that described the rise of \u201cglobalization,\u201d a term for music created for local markets in native languages that tops local charts on global streaming platforms. \u201cThere\u2019s so many more across South and Central America and the whole world is listening to these new\u00a0\u2018glocalisatas\u2019.\u201d<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The value of global music copyright reached $45.5 billion in 2023, up 11% from the prior year, according to the latest annual industry tally by economist Will Page. When Page first calculated the value of various music copyright-related revenue streams in 2014, the figure was $25 billion\u2014meaning music copyright could double in value in ten […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-115227","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/115227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=115227"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/115227\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=115227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=115227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=115227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}