Newark, May 21, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 7 billion in 2023 global music copyright market will reach USD 9.40 billion in 2033. The legal process of obtaining rights to musical compositions and recordings—which gives creators exclusive ownership over their creations—is known as music copyrighting. It's essential to maintain equitable compensation for artists, encourage creativity, and safeguard intellectual property. Musicians can protect their works from unauthorised use and exploitation and maintain the integrity and worth of their work by acquiring copyright protection. Music can be copyrighted for several reasons, including licensing, distribution, and enforcement. Copyright holders grant permission for their Music to be used in movies, TV shows, ads, and other media in exchange for payments through licensing agreements. Copyrighted Music can be distributed to listeners worldwide through digital downloads, tangible media, and streaming services.
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Scope of Music Copyright Market
| Report Coverage | Details |
| CAGR | 3% from 2024 to 2033 |
| Market Size in 2023 | USD 7 Billion |
| Market Size by 2033 | USD 9.40 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | by Product, End User, Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
To preserve control over the use and representation of their work, creators might pursue legal action against persons or organisations who violate their copyright. Music copyrighting encourages ongoing creativity by giving creators financial benefits through royalties, licencing fees, and other revenue streams. Music creators, broadcasters, performers, filmmakers, and advertising are among the people who use copyrighted Music.
Key Insight of the Global Music Copyright Market
North America will dominate the market during the forecast period.
Major publishing houses, record labels, and performing rights organisations are based in the area, and they laid the foundation for contemporary music copyrighting. The region's supremacy is attributed to its large and affluent consumer market and high levels of music consumption. Furthermore, the region's well-established legal and regulatory structures strongly protect intellectual property and creators' rights. North America leads the world in Music copyrighting due to its sizeable market, developed legal system, and robust industry infrastructure.
In 2023, the royalty-free segment dominated the market, with a 62% market share and revenue of 4.34 billion.
The product segment is divided into royalty-free and rights-managed. In 2023, the royalty-free segment dominated the market, with a market share of 62% and revenue of 4.34 billion.
In 2023, the record companies segment dominated the market with the largest market share of 68% and revenue of 4.76 billion.
The end-user segment is divided into record companies and personal musicians. In 2023, the record companies segment dominated the market with the largest market share of 68% and revenue of 4.76 billion.
Advancement in market
The unapproved use of intellectual materials to train AI models is a topic of current legislative discussions in several nations. India's government has taken a firm stance, stating that AI developers must obtain permission if they want to utilise copyrighted content for commercial purposes. The Minister of State for Commerce and Industry, Som Parkash, responded to questions posed by members of the Indian Parliament's upper house by stating that the country's intellectual property laws already cover advancements in artificial intelligence and the use of copyrighted materials to train AI, so there is no need to update them to accommodate the technology.
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Market Dynamics
Driver: The strict legal requirements.
The market is growing due to legal and regulatory obligations, such as laws, treaties, and rules governing copyright ownership, licencing, and enforcement. The ease with which Music may now be shared and accessed globally due to digitalization increases the likelihood of copyright infringement. Strict copyright regulations give artists the legal ability to safeguard their creations. International treaties also set minimum requirements for copyright protection, promoting international cooperation in enforcing copyright laws. The proliferation of online distribution channels demands adherence to legal and regulatory regulations to prevent fines and other legal ramifications. There is a rising need for Music copyrighting services due to the greater awareness of and observance of copyright regulations. A creator's ability to maximise revenue and maintain their livelihood is contingent upon compliance with legal and regulatory regulations. Creators can optimise their revenue and maintain their livelihoods by adhering to legal and regulatory obligations. As a result, the legal and regulatory framework surrounding music copyrighting fosters the expansion and growth of the market.
Restraints: The intricate process of creating music involves multiple stakeholders.
Complicated terms and conditions when drafting contracts result from the complicated nature of creative collaboration and the involvement of various parties in the music creation process, which in turn leads to complex ownership. Ownership rights conflicts frequently arise from cooperative efforts involving composers, lyricists, performers, and producers. These difficulties raise administrative duties, legal fees, and lawsuit risk while restricting the effectiveness and scalability of Music copyrighting companies. Consequently, the expansion of the market will be hampered by the complexity of contract drafting, given the intricacy of the creative process.
Opportunities: The rapidly growing digital era.
Music is now more freely shared and available with the growth of digital platforms and online distribution methods, which raises the possibility of copyright infringement. As artists seek ways to secure their intellectual property rights and get paid fairly for their work, this trend has increased demand for copyrighting services for Music. The music industry's globalisation has increased artists' exposure to a wider range of consumers worldwide, but it has also created new difficulties for international copyright enforcement. Services for music copyrighting are essential for assisting musicians in navigating global copyright regulations and safeguarding their work against unauthorised use anywhere globally. The spread of channels for creating content has furthered the demand for music copyrighting services due to the growth of content creation platforms. Therefore, the demand for Music copyrighting services is rising, which is good news for the market's growth throughout the projected period. Other factors contributing to this demand include the digitalization of Music, the industry's globalisation, and the expansion of content generation and consumption.
Challenges: The lack of standardised laws and regulations.
Globalization of the music industry introduces cross-border issues that complicate enforcement efforts. Copyright laws vary between countries, posing challenges for creators seeking to protect their rights internationally. Differences in legal frameworks, enforcement mechanisms, and cultural attitudes toward copyright create a complex landscape. Therefore, the lack of standardised laws and regulations will challenge the market's growth in a globalised age.
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Some of the major players operating in the global music copyright market are:
• BMG Rights Management
• Capitol Music Group
• Concord Music Group
• Downtown Music Holdings
• Kobalt Music Group
• Reservoir Media Management
• Round Hill Music
• Sony Music Entertainment
• Universal Music Group
• Warner Music Group
Key Segments covered in the market:
By Product
• Royalty-Free
• Rights Managed
By End User
• Record Companies
• Personal Musicians
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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