{"id":97191,"date":"2023-11-07T11:00:00","date_gmt":"2023-11-07T11:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=97191"},"modified":"2023-11-07T10:53:24","modified_gmt":"2023-11-07T10:53:24","slug":"the-global-value-of-music-exploded-upwards-in-2022","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/the-global-value-of-music-exploded-upwards-in-2022\/","title":{"rendered":"The global value of music exploded upwards in 2022"},"content":{"rendered":"\n

The global value of music copyright leaped up by 14% in 2022, over $5 billion in monetary gains showing powerful growth for the industry.<\/span><\/h2>\n\n\n\n

A newly published analysis<\/a> reveals how well the global music industry is doing. The value of music around the globe has seen incredible growth last year and looks to continue growing. Who’s gaining from that value?<\/p>\n\n\n\n

Well, the report revealed that the global value of music copyright is up 14% to $41.5 billion. This massive gain is made up of $26 billion in recorded music revenues, $11.4 million of collecting society revenues, and $4.1 million of direct publishing revenues.<\/p>\n\n\n\n

The data has been collated by former Spotify chief economist Will Page. Page has combined data from the IFPI’s Global Music Report, CISAC’s Global Collections Report, and Music and Copyright’s estimates for music publishing. Page factored duplicate revenues into his calculations.<\/p>\n\n\n\n

The report shows continuous growth for the music industry. Page wrote: “As with prior years, I will begin by saying ‘this year we’ve got a really big number to report’ – and this year, for the first time ever, that number starts with a four.”<\/p>\n\n\n\n

Does growth benefit artists or labels?<\/h3>\n\n\n\n

Are the artists benefiting from all this cash flow? Well, yes but not entirely. Page notes: “The spoils of growth are shared evenly between labels and artists on one side, and songwriters publishers, and their CMOs on the other – both adding around $2.5 billion each.”<\/p>\n\n\n\n

In the new digital age of music powered by streaming<\/a>, the power dynamics have shifted away from major labels. This hasn’t just provided artists more power over their music, it also represents a better proportion of revenues.<\/p>\n\n\n\n

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