Music Copyright Value Hits All-Time High of $47.2 Billion

A new study has found that music copyright value has nearly doubled over the past decade to a new record high. In 2024, the total value was $47.2 billion, up $25 billion from 2014.

Background:

• The study was conducted by Pivot Economics Founder and former Spotify Chief Economist Will Page.

• The amounts include revenue from record labels, publishing, and songwriting on a global scale.

The numbers:

• Here’s how the $47.2 billion breaks down:

• $29 billion came from labels. A 5% increase. The US makes up 38% of that figure.

• $13.6 billion came from songwriter collective management organizations. An 8% increase.

• $4.6 billion came from direct publisher revenues. A 1% decrease.

• The overall figure grew 5.2% year over year, but that represents a slower rate.

• From 2022-2023, the total value grew 11%.

• The study reports value is growing faster for publishers than for labels. 6% and 5% YoY, respectively.