The Worldwide Confederation of Music Publishers (ICMP) has launched its first-ever evaluation of world music publishing, surveying 16 main music markets. The headline discovering? Music publishing brings in slightly over $11 billion yearly in these markets.
The quantity consists of publishers’ direct income, plus distributions to publishers and songwriters from collective administration organizations (CMOs).
The international locations surveyed embody 9 of the ten largest music markets, as decided by IFPI in its recorded music report for 2024: The US, Japan, United Kingdom, Germany, France, South Korea, Canada, Brazil, and Mexico. It additionally consists of seven international locations that fell wanting the highest 10 – Australia, Brazil, Italy, the Netherlands, South Africa, Spain, and Sweden – in addition to Hong Kong.
From this, we will surmise that the annual international worth of music publishing is effectively over $11 billion, provided that some main markets, together with China and India, weren’t included.
Of the income collected in these international locations, 38.2% was direct – which means income collected by music publishing firms – whereas 61.8% was oblique, i.e. distributions from collective administration organizations (CMOs) to music publishers.
Throughout the surveyed markets, digital income accounted for 47.1% of complete income, excluding CMO distributions to songwriters. Nevertheless, the share of digital income various extensively from market to market, from a low of 20.3% in Italy to a excessive of 70.5% in Mexico. Within the US, digital accounted for 52.1% of publishing revenues, whereas within the UK it accounted for 41.5%.
Mexico’s excessive share of digital revenues squares with different knowledge indicating that Latin music shoppers are significantly massive on streaming. The RIAA’s 2024 knowledge for the US recorded music market confirmed streaming and downloads accounted for 98.8% of complete US Latin music income.
Non-digital efficiency rights (concert events, radio play, and so forth.) made up the second-largest income throughout the surveyed markets, at 21.5%, whereas synchronization rights have been the third-largest supply, at 20.2%.
Right here, once more, the numbers various notably from nation to nation, with non-digital performing rights accounting for a minimum of 44.4% of publishing revenues in Italy, and simply 8.7% in Hong Kong. Within the US, that quantity got here to 16.5%, whereas within the UK it was 23.9%.
Synch income accounted for 23.5% of publishing income within the US, the best share among the many international locations surveyed and the one one market the general 20.2% common. On the different excessive is Germany, the place synch accounted for 8.8%.
ICMP collected knowledge for its survey from the eight music publishers represented on its board, which incorporates the three publishing majors – Sony Music Publishing, Common Music Publishing Group, and Warner Chappell Music – in addition to BMG, Harmony Music Publishing, Reservoir Media, Kobalt, and peermusic.
It additionally included knowledge from collective administration organizations (CMOs) in all 16 international locations, together with international CMO umbrella group CISAC; SESAC within the US; PRS for Music within the UK; SACEM in France; and KOMCA in South Korea, amongst others.
The numbers in ICMP’s report don’t correspond to any specific calendar yr; it consists of distribution knowledge from CMOs “for the final accomplished 12 months.” Provided that the survey started in early 2024, a lot of the information comes from 2023.
Nonetheless, the commerce group confused that having a snapshot of the worth and composition of music publishing income throughout main markets is a precious new device for understanding the character of the enterprise.
“This primary ever Music Publishing Markets Evaluation is a landmark achievement for our business,” ICMP Director Normal John Phelan mentioned in an announcement.
“Now we have credible, detailed knowledge on the character and dimension of our sector, evidencing the unbelievable work achieved by publishers for his or her songwriter companions and spotlighting the worth of songs.”
“Now we have credible, detailed knowledge on the character and dimension of our sector, evidencing the unbelievable work achieved by publishers for his or her songwriter companions and spotlighting the worth of songs.”
John Phelan, ICMP
“Because the music enterprise evolves, the necessity for trusted data throughout the worldwide publishing panorama is extra essential than ever,” Rell Lafargue, Reservoir Media President and COO and ICMP Vice Chair, added.
“The great knowledge and insights will assist Reservoir and our friends foster higher transparency throughout the enterprise, help creators in nuanced methods, and capitalize on international tendencies.”
Ralph Peer II, Government Chair at peermusic and ICMP Board Secretary, mentioned this knowledge is one thing that the music publishing sector “has wanted for a few years… This primary yr has generated an unprecedented trove of data which ICMP appears ahead to constructing upon within the coming years.”
“In an business that has typically been hesitant to share its knowledge, the train additionally highlighted the advantages and rewards of transparency and cooperation.”
Man Henderson, Sony Music Publishing
“In an business that has typically been hesitant to share its knowledge, the train additionally highlighted the advantages and rewards of transparency and cooperation,” added Man Henderson, President, Worldwide at Sony Music Publishing and member of ICMP’s World Board.
In the meantime, Paul Clements, CEO of the UK’s Music Publishers Affiliation (MPA) and ICMP Board Co-Treasurer, highlighted the challenges dealing with the music publishing business at a time of speedy change.
“Shifting shopper behaviour, financial adjustments, App Retailer infringement on a worldwide scale, and the specter of copyright legislation adjustments in favour of AI are just some examples for the necessity for stronger than ever collaboration between worldwide music publishing commerce our bodies and their writer members,” he mentioned.
John Reston, Common Music Publishing Group’s, President, World Administration, mentioned: “Common Music Publishing Group is happy to help ICMP’s effort to compile essentially the most full market knowledge for our sector up to now in the important thing markets represented in its ICMP Music Publishing Markets Evaluation. We’re proud to symbolize a world-class catalogue of songs inclusive of each style.
“Having market knowledge available to show the dimensions and financial significance of our business will probably be an essential device in our defence of copyright and the songwriters and composers we’re privileged to symbolize.”
Daniel Lang, who sits on he ICMP World Board and in addition serves as Warner Chappell Music SVP, World Society Relations & Digital Rights, added: “This inaugural ICMP Music Publishing Markets Evaluation marks a pivotal second within the music publishing world, providing us at Warner Chappell Music, in addition to the worldwide publishing neighborhood, a significant lens into our evolving panorama.”Music Enterprise Worldwide
