{"id":100052,"date":"2024-06-14T14:00:00","date_gmt":"2024-06-14T13:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=100052"},"modified":"2024-06-14T13:02:30","modified_gmt":"2024-06-14T12:02:30","slug":"songwriters-can-celebrate-nmpas-huge-revenue-jump","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/songwriters-can-celebrate-nmpas-huge-revenue-jump\/","title":{"rendered":"Songwriters can celebrate NMPA’s huge revenue jump"},"content":{"rendered":"\n

Music publishing revenues have leaped upwards in 2023, though there are questions over whether 2024 can keep up.<\/span><\/h2>\n\n\n\n

The National Music Publishers’ Association (NMPA) have revealed 2023’s results. The association works on behalf of songwriters to collect music publishing revenues for musical compositions and saw a fantastic year.<\/p>\n\n\n\n

The NMPA report nearly 11% growth in music publishing revenue in 2023. Publishing revenues in the U.S. reached $6.2 billion last year, representing growth of 10.74% on 2022. <\/p>\n\n\n\n

At the NMPA’s annual meeting they awarded Lana Del Rey with the award for Songwriter Icon. Savan Kotecha took the award for Non-Performing Songwriter Icon, and the song ‘Can’t Help Falling In Love’ was awarded the Iconic Song Award.<\/p>\n\n\n\n

However, the event’s discussion gave large prominence to Spotify<\/a> and the NMPA’s displeasure with their recent actions. A recent move saw Spotify move to a bundling scheme<\/a> which sees them pay less to publishers and songwriters.<\/p>\n\n\n\n

Spotify’s bundling scheme means that they qualify for a lower publishing royalty rate because their service offers both music and audiobooks. This is after Spotify added audiobooks as a Premium benefit<\/a> last year. <\/p>\n\n\n\n

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Spotify audiobooks to impact songwriters earnings<\/a><\/blockquote>