$7.2bn
$XXX.Xm
6,109
753
$XXX.Xm
Music publishers have remained at the center of a long-term transition over the past five years. Consumers have increasingly used convenient online music streaming services like Spotify and Apple Music to listen to their favorite artists, but less-than-lucrative royalty rates have limited publishers' ability to properly monetize these platforms. Publishers licensing music to TV and movies enjoyed a similar rise in streaming as apps like Netflix and Hulu saw increased viewership. Concerts canceled by COVID-19 led to a temporary slump in performance revenue for publishers, but the strong return to concert venues as pent-up demand was released more than offset any losses. Industry revenue has climbed at a CAGR of 2.0% to an estimated $7.2 billion through the current period and is set to climb 5.2% in 2024 alone.
Industry revenue has grown at a CAGR of 1.6 % over the past five years, to reach an estimated $7.2bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Universal Music | 530.4 | 112.4 | 21.2 | |
Sony Music Publishing LLC | 469.3 | 106.5 | 22.7 | |
Warner | 297.4 | 20.8 | 7.0 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Mechanical royalties, Performance royalties and Synchronization royalties. Mechanical royalties is the largest segment of the Music Publishing in the US.
Performance royalties make up nearly half the industry's revenue
This industry acquires, copyrights and authorizes the licensed use of musical compositions and recordings. Publishers may own the rights to various musical works or have been chosen to administer copyright and licensing agreements on behalf of musicians, songwriters and composers. Licensing agreements specify the royalties paid to publishers in exchange for authorized use of these works through various media channels.
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NAICS 51223 - Music Publishing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Profit has risen as streaming grows. The transition to platforms like Spotify and Apple Music has allowed for new revenue at little additional cost.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Music Publishing in the US industry in United States is $7.2bn in 2024.
There are 753 businesses in the Music Publishing in the US industry in United States, which has grown at a CAGR of 1.3 % between 2019 and 2024.
The market size of the Music Publishing in the US industry in United States has been growing at a CAGR of 1.6 % between 2019 and 2024.
Over the next five years, the Music Publishing in the US industry in United States is expected to decline.
The biggest companies operating in the Music Publishing market in United States are Universal Music, Sony Music Publishing LLC and Warner
Acquiring and registering copyrights to musical works and Licensing and distributing musical works are part of the Music Publishing in the US industry.
The company holding the most market share in United States is Universal Music.
The level of competition is high and increasing in the Music Publishing in the US industry in United States.