Music Publishing Market Size, Share, Industry Analysis 2022-28

Muthyala30 Mar, 2023Business

The global music publishing market size was valued at USD 5.95 billion in 2021 and is poised to grow at a significant CAGR of 9.34% during the forecast period 2022-28. Individual purchasing power has increased as disposable income has increased, which will affect the growth of the music publishing sector. Publishers of music books and licensing musical compositions for films, television, performances, and other media are the primary sources of revenue for this industry. The industry is expected to be driven by increased music streaming devices. According to the IFPI, paid media streaming has grown by 45.5 % year over year, with 176 million paying subscribers. They are furthermore, streaming accounts for 38.4 % of the music publishing market's earnings. All these factors are driving the market.