Global Music Production and Distribution
Digital music has created a shift in the way artists engage with fans, a transition that has had major implications for the Global Music Production and Distribution industry. In general, low-margin digital distribution of music has prompted the industry's largest companies to generate revenue through a range of services that extend beyond simply generating income from record sales. Industry operators will likely embrace new digital technology in the future if they expect to thrive in the changing landscape. Music companies have thus far been slow to enter the digital market for music consumption and their performance over the next five years hinges on their ability to adapt and enhance music consumption from home and mobile devices. Accordingly, as major operators learn to navigate this environment, IBISWorld expects industry revenue to improve marginally over the five years to 2022.
Operators in this industry sign musicians and artists to recording contracts, allocate budgets for artists' recordings, produce and master artists' work, distribute artists' music to retail and promote the artists' work through various advertising campaigns. This industry also includes music publishing, which involves leasing music as intellectual property for use beyond live performance such as in promotional material and other forms of media, notably, streaming services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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