Increasing demand from the music industry drives the Music Copyright market: Cognitive Market Research

Music Copyright Market Overview

Product Overview and Scope of Music Copyright

Music copyright designates legal ownership of a musical composition or sound recording. This ownership includes exclusive rights to redistribute and reproduce the work, and licensing rights that enable the copyright holder to earn royalties. Two types of music copyright such as master and composition. The compositional copyright covers various musical compositions including the arrangement of notes, melodies, and chords in a specific order. It is held by songwriters, lyricists, and composers, and managed by their music publishers. The master copyright covers the specific sound recording, or master recording that contains a particular expression of the musical composition created by performing or recording artists. This copyright is held by the performing artists and, typically, their labels.
Several music copyright laws including copyrighted work must be original, violation of copyright law must be established in court, master recording copyrights are administered by record labels, compositional copyrights are administered by publishers, copyrights last 70 years past the owner’s lifetime, cover versions require only a mechanical license and only in the US.

Global Music Copyright Market – Global Industry Analysis

Market Drivers

• Increasing demand from the music industry significantly drives the global music copyright market.

Increasing demand for music copyright in the music industry an important aspect of the music industry for years is expected to drive the growth of the global market. Music copyright is the legal protection granted to creators and owners of musical works, including compositions, lyrics, and recordings. It grants exclusive rights to the copyright holders, enabling them to control the reproduction, distribution, and performance of their music.
Music copyright provides creators and rights holders with legal protection for their intellectual property with the growth of digital technologies and online platforms. It has become easier to reproduce and distribute music without proper authorization. This has led to an increasing demand for copyright protection to safeguard the rights and interests of musicians, songwriters, and music producers. Additionally, increasing the music industry worldwide. The artists and music labels seeking international audiences. This expansion creates a greater need for copyright protection on a global scale, ensuring that creators' rights are respected and monetized across different territories. 
Copyright enables copyright owners to collect royalties when music is used commercially. As the demand for music in various formats such as streaming, downloads, and synchronization licenses continues to rise, so does the need for efficient copyright management and royalty collection systems. The following graph represents the Music industry revenues from copyright royalties in Norway from 2015 to 2021.

• Growing demand for music content in various applications is significantly boosting the global music copyright market

Global Music Copyright Revenue by Regions (2018-2023)

Global Music Copyright Revenue and Market Share (%) by Regions (2018-2023)

Global Music Copyright Revenue (USD Billion) by Regions (2018-2023)

Global Music Copyright market is expected to grow at a CAGR of 5.2% over the forecast period from 2023 to 2030.

Global Music Copyright Revenue Market Share (%) by regions in 2022

Global Music Copyright Revenue Market Share (%) by regions in 2022

Source: Cognitive Market Research

North America is estimated as the largest contributor to the global music copyright market and is also expected to grow with the highest CAGR during the forecast period. This growth is attributed to the strong presence of major music hubs like Los Angeles, Nashville, and New York City attracting artists, songwriters, producers, and industry professionals, creating a thriving ecosystem for music creation and copyright management. 

Global Music Copyright Market Segmentation Analysis

Global Music Copyright Market by Type

• Royalty-Free
• Rights Managed

Global Music Copyright Revenue Market Share (%) by Type segment in 2022

Source: Cognitive Market Research

Based on type, the royalty-free segment is dominating the music copyright market during the forecast period. This is attributed to royalty-free music can be used without paying royalties or licensing fees for each use for copies of the material, volumes sold, or for a term of use or sale, subject to copyright or other intellectual property laws. The royalty-free deal involves musicians recording covers of songs by famous artists and uploading them on YouTube, making money whether those covers are liked or not. Additionally, increasing the use of royalty-free music for commercial use. Thus, increasing the royalty-free segment in the global music copyright market.

Global Music Copyright Market by Application

• Record Company
• Personal Musician
• Film & TV
• Music Streaming Services
• Advertising

Global Music Copyright Market by Distribution Channel:

• Online
• Offline

Global Music Copyright Market by End User:

• Individuals
• Enterprises

Global Music Copyright Market by Revenue Model:

• Subscription
• One-Time License

Global Music Copyright Manufacturers Profiles/Analysis

Audio Network Limited

Audio Network Limited Company Basic Information, and Sales Area

Business Segment/ Overview:

Audio Network Limited was founded in 2001 and with a global team of over 170 people across 18 locations. It is offering 200,000+ wholly-owned tracks across all genres imaginable. Filter by over 900 moods and musical styles. Further, the company is recording over 150 sessions annually at the iconic Abbey Road Studios.

Business Strategy 

From global brands to broadcasting giants, the company works with different business partners such as Pepsi, Google, Netflix, Amazon, and others, which is increasing its customer base. The client base of the company includes BBC, Viacom, HBO, ITV, Disney, and others. 

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