Seattle, WA -- (SBWIRE) -- 10/16/2019 -- A music publisher or a publishing company is a private entity in the music industry, who has the responsibility to ensure the songwriters and composers receive the payment when their compositions are used commercially. The copyrights of the composition or song are assigned to a publishing company by signing an agreement called publishing contract. In turn, the company licenses compositions, assists in monitoring where compositions are used and collect royalties and distributes them to composers. The global music publishing market report focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global music publishing market is expanding significantly, owing to rising trend of wearable and wireless technology around the globe.

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Global Music Publishing Market- Drivers

Rising popularity of music streaming devices is expected to drive growth of the global music publishing market during the forecast period. For instance, according to International Federation of the Phonographic Industry (IFPI), paid media streaming accounted for 45.5% year-on-year growth. Furthermore, increasing trend of wearable and wireless technology, in which the devices offer movability and are of great importance in concerts is expected to drive the market growth in the near future. Concerts and live performances are also increasing, which is expected to boost the market growth. For instance, in 2019, there are around 50 big music festivals organized in the U.S. only.

Moreover, growing trend of digital music, which offers convenience and ease of listening music is expected to drive growth of the global music publishing market during the forecast period. For instance, according to IFPI, in 2018, digital music revenue accounted for 54% of the music industry's total revenue. Moreover, according to the same source in 2018, there was 41.1% growth in streaming revenue. Furthermore, growing use of various music streaming applications such as Spotify, Apple Music, Amazon Music, and SoundCloud that offer high-definition songs with convenience is expected to drive the market growth in the near future. According to Midia Research, in 2017, Spotify 36% of market share, which is the largest in the world, with 83 million subscribers.
Market Dynamics-Restraints

Significant issues regarding piracy and unethical downloading by using proxy sites are expected to restrain growth of the global music publishing market during the forecast period.

About Competitive Landscape
Sony/ATV Music Publishing LLC, Universal Music Publishing Group, BMG Rights Management, Warner/Chappell Music, Inc., Reach Music Publishing, Big Deal Music, Kobalt Music Group, and Disney Music Group.

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