Music Publishing Market Overview

Worldwide Music Publishing Revenues were $5.6 billion in 2019 are projected grow to $6.0 billion by 2020

Source: IFPI 2019

Five companies account for the majority of music publishing revenues:

    • Sony Music Entertainment (Sony/ATV Music Publishing)
    • Universal Music Group (Universal Music Publishing)
    • Warner Music Group (Warner/Chappell Music)
    • BMG Rights Management (BMG RM)
    • Kobalt Music Services

Music Publishing U.S. Market Share:

Source: Billboard 08/2020

Recorded Music Overview

During the transition from albums to digital downloads, the diversification of publishing royalty streams provided a clear advantage over recorded music.

With a higher percentage of streaming revenue and the ability to collect a performance royalty on digital radio formats, recorded music and labels are expected to benefit disproportionately from streaming (relative to publishers).

The primary risk to these projections is Spotify’s ability to pay royalties at current levels while generating the margins necessary to go public, attract investors and fund operations/growth.

Source: Music & Copyright 2019