Music Publishing in the US - Industry Market Research Report

Played Out: the Digitization of Music Will Likely Continue to Aid the Industry Due to Growing Streaming Revenue

The music publishing industry is amid an important but tricky transition. Companies in this industry acquire copyrights to music and then collect licensing fees for the use of the music in various forms of media. The continued fall of album sales over the five years to 2023 has pushed publishers to look to streaming as a source of revenue. To operate within the evolving media landscape, music publishers continuously cultivate licensing agreements with new media outlets, including mobile outlets, online radio platforms and subscription-based streaming music services.

Because of growth in these and other areas, industry revenue has increased during the current period, rising an annualized 3.3% to $7.2 billion, including a decrease of 0.3% in 2023 alone. This reflects consistent growth through the period and a spike of 10.4% in 2021 as pent-up demand for concerts after COVID-19 brought elevated performance royalties to music publishers. 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. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.