The global value of music copyright has reached an all-time high of $47.2 billion in 2024, nearly doubling over the past decade, according to a study conducted by Pivot Economics founder and former Spotify chief economist Will Page. That’s up from roughly $25 billion in 2014, which includes revenue from record labels, publishing and songwriting around the world, showcasing the value of musical works on a global basis.
Page’s analysis comes with the support of IFPI, CISAC and ICMP, as well as a MiDIA survey of over 250 publishers and direct contributions from rights holders and streamers, according to his report.
The $47.2 billion breakdown includes: $29 billion from labels (up 5%), $13.6 billion from songwriter collective management organizations (up 8%) and $4.6 billion from direct publisher revenues (down around 1%), with the overall figure growing 5.2% year over year. Yet overall, growth has slowed; from 2022 to 2023, for example, the value of global copyright had grown 11% year over year, compared to the 5.2% growth this year.
