IMPF has launched the fourth edition of the Global Market View for Independent Music Publishing.
Available here and sponsored by Musixmatch, it is the only report that looks exclusively at the independent music publishing industry and its international impact and position. It provides in-depth, authoritative insight into the value of the independent music publishing business and the sector’s influence on the global modern music ecosystem.
The latest report covers 2022, which is the last full year of data available. The Report also cites case studies and trends from 2023 for – France, Canada, India, Germany, and the USA.
It produces several key findings:
- The independent music publishing sector continued to grow with a rate of 16.8% in value to €2.43bn, despite a slight drop in market share.
- The independent music publishing sector taken as a whole remains bigger than the biggest music publishing company.
- Revenues of the independent music publishing sector doubled in the five years up to 2022, from €1.25bn to €2.43bn.
- Estimates for 2023 suggest that the growth rate of the publishing sector is going to be at minimum 8-12% and may be more depending on the state of the sync market after the Hollywood strikes.
The report was issued at the organisation’s 2024 General Assemblies in Dublin 25th/26th April. The Assemblies featured a number of keynote speakers and panel discussions on topics including generative AI and copyright; independent publishers and independent labels working together; video games and music; diversity and inclusion in the music business; music supervision; CLIP, the awareness platform to increase knowledge of creators’ rights; and the new dot music domain.
Annette Barrett, Reservoir Music, and President of IMPF said: “It’s a pleasure to show the continued growth of our sector and the ongoing dominance of the independent music publishing community in terms of market share. It is, however, also important to acknowledge independent music publishers’ as the early champions of emerging creators, and as their first professional affiliates. Wherever we operate, we are usually the strongest supporters of local talent covering a wide range of musical genres, including those at the fringes that don’t necessarily make the headlines or the big numbers. Our latest Global Market View shines a light on all these facets of our thriving community.”
Aman Khullar, General Counsel, Musixmatch said: “Musixmatch is a proud supporter of the independent music publishing community. The latest edition of the IMPF report shows the importance of independent music to the music ecosystem in all its forms including the growing importance of lyrics to music and other digital services. We enjoy working with independent music publishers on a daily basis to help distribute their lyrics and other data and drive fair value for their rights in the global market. Our relationship with independent publishers is central to our business, and the IMPF’s support has been crucial to help facilitate two-way conversations with our independent publisher partners. We look forward to working together in the future.”
IMPF (Independent Music Publishers International Forum) is the global trade and advocacy body for independent music publishers worldwide. IMPF helps to stimulate a more favourable business environment in different territories and jurisdictions for artistic, cultural, and commercial diversity for its music publisher members and the songwriters and composers they represent. www.impforum.org
