US Music Production and Publishing Revenues Approach $17 Billion
US music production and publishing industry revenues are forecast to total $16.9 billion in 2021, representing 4.0% annual growth from $13.9 billion in 2016, according to Music Production & Publishing, a report recently released by Freedonia Focus Reports. Advances will be driven by global growth in disposable personal income levels. Gains will also be supported by ongoing stabilization as the industry emerges from a historical period characterized by technology-driven disruption.
In addition, advances will continue to be driven by new releases from leading artists. Furthermore, rising demand for digital albums and vinyl records will offset continued losses in CD sales and digital singles. This feat will be possible, despite the lower revenue generation potential of single-track digital sales, in light of CDs diminished market share. For perspective, revenues from CDs dropped 86% between 2006 and 2016.
This report forecasts US music production and publishing industry revenue in US dollars to 2021. Total revenue is segmented by service in terms of:
– record sales
– studio recording services
– copyright administration
– print music
– other services such as audiobook recording, event recording, and stock music and sound libraries