IMPF launches 3rd edition of the Independent Music Publishing Global Market View

20 April 2023 - Press release

Report gathers data detailing the independent music publishing sector’s emergence from the Covid-19 pandemic. 

IMPF, representing independent music publishers internationally, has launched the third edition of its Independent Music Publishing Global Market View.

Available here and sponsored by Musixmatch, the leading music data company, this report provides in-depth, authoritative insight into the value of the independent music publishing industry and the sector’s influence on the modern music ecosystem.

The latest report paints a picture of the independent music publishing market as it exited the Covid-19 pandemic. It provides several key findings:

-        The independent music publishing sector (defined as companies with a global market share of 5% or below), taken collectively, had a total market share of 27.1%.

-        Such a combined market share would qualify the independent music publishing sector as a collective entity with a market share higher than that of the largest music publisher in the world, Sony Music Publishing (24.9% in 2021).  

-        In total, the global music publishing market was worth €7.68 billion in 2021, against €6.51 billion in 2020, based on restated figures.

-        The independent music publishing market was worth an estimated €2.08 billion in 2021, compared with €1.95 billion in 2020.  

The report raises a number of important issues facing publishers in today’s market including continuing recovery from the Covid-19 pandemic, and imbalances in the split of streaming revenues between recorded music and music publishing.

It also outlines several factors that will contribute to a stronger music publishing business in the coming years, including the recovery of public performance; the resuming of film and TV productions; the recovery of the live music sector; and favourable legislation in the United States, in particular, that will see a significant increase in royalties paid to music publishers and songwriters from mechanical rights.

The information contained in the report is bolstered throughout by comment and insight from top level executives at leading publishers worldwide, including Filippo Sugar (Sugar Music, Italy); Elisa Amouyal (Talit MuZic Publishing, Israel); Ichi Asatsuma (Fujipacific Music, Japan); Molly Neuman (Downtown Music Holdings, US); Jennifer Mitchell (Red Brick Songs, Canada); Ender Atis (BuddeMusic, Germany); and Linda Bosidis (Mushroom Music Publishing, Australia).

The report was issued in Stockholm today, where IMPF is holding a two-day event consisting of its General Assembly and a series of special talks from high level industry executives.

It was introduced by IMPF President Annette Barrett and discussed during a panel consisting of Emmanuel Legrand (author of the report and Editor/Founder of Creative Industries News), Eva Karman Reinhold (CEO and Founder of Smilodon Artist Law & Rights Management and IMPF Member), and Aman Khullar (General Counsel, Musixmatch, the sponsor).

Annette Barrett, Reservoir Music, and President of IMPF said: “Independent music publishers are a vital creative force in the modern music business. They are also an economic force, as this report shows, accounting for over a quarter of the global publishing market. Collectively, independent publishers are the premiere publishing entity in the world, ahead of the largest major company. This is a tribute to the many entrepreneurs in each country who develop songwriters and composers, and make sure they get proper remuneration for their music.”

 

Aman Khullar, General Counsel, Musixmatch said: “Musixmatch is proud to sponsor the third edition of IMPF’s Independent Music Publishing Global Market View. Together with our publisher partners we have worked for more than 12 years to nurture and grow the digital lyrics market — a way to earn royalties from existing rights that are now an intrinsic part of every music DSP product. We are particularly excited by the continued growth of the independent publisher community, and we look forward to working with our partners on growing the lyrics market and developing new products. Working with the IMPF, we know that independents have a strong and committed advocate for their rights as well as a forum to discuss and share ideas about the future of the music industry.”

As well as being available for general consumption, IMPF’s Independent Music Publishing Global Market View is delivered directly to more than 1000 leading independent music publishing executives across IMPF’s network of 150+ music companies around the world and its network of Friends and Supporters, comprising global commercial entities who align with the mission of IMPF to support the work of independent music publishers internationally.  

The report is also distributed to the global music industry’s major international trade bodies, societies and other organisations that IMPF works with including CISAC, GESAC, WIPO, EUIPO, IFPI, ICMP, IPA, AIMP, IMPALA, IMPEL, IMC, The Ivors, CIAM, The MLC, BMAT, and ECSA. 

 

IMPF represents independent music publishers internationally. It is the global trade and advocacy body that helps stimulate a more favourable business and entrepreneurial environment for artistic, cultural, and commercial diversity for independent music publishers everywhere and the songwriters and composers they represent.  www.impforum.org