The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.
Streaming gains forecast to take recorded-music sales to new highs
Omdia has updated its forecasts for retail sales of recorded-music. In line with previous estimates, the recorded-music sector is firmly a growth market and Omdia expects sales in each of the years up to and including 2026 to rise. By the end of the forecast period, retail sales will have grown for 12 consecutive years. However, although the global total will top the record high set in the late 1990s, a straight comparison is not strictly accurate given that recent results include performance rights and synchronization and 20+ years of inflation have not been accounted for. Including annual price rises, global sales are still short of setting a record. Subscriptions are the single biggest recorded-music category and will generate close to 70% of global revenue by the end of the forecast period. Furthermore, income from advertising will overtake spending on physical formats in 2024. China will replace France in the top five market listing this year and go on to supplant Germany in 2026.
Global, recorded-music retail sales by individual source, 2021–26 Source: Omdia
CJEU rules Article 17 of the copyright directive is in line with fundamental rights
The EU Court of Justice (CJEU) has rejected claims by the Polish government that Article 17 of the European Directive on Copyright in the Digital Single Market was not compatible with freedom of expression and information detailed in the EU Charter of Fundamental Rights (the Charter). The Polish government had claimed that making it necessary for service providers to carry out automatic filtering of content uploaded by users and therefore to introduce preventative control mechanisms in order to prevent future uploads of protective works, undermined the essence of freedom of expression and information. The government also said the Article 17 of the Directive did not comply with the requirement that limitations imposed on that right be proportional and necessary. However, the court has decided that the obligation on online content-sharing service providers (OCSSPs), to review uploaded content before it is made available, is accompanied by the necessary safeguards to ensure that that obligation is compatible with freedom of expression and information.
The recorded music business sees value in the metaverse, podcasting, film, and more
The metaverse and non-fungible tokens (NFTs) are exerting a strong pull on the recorded-music business, whose denizens are placing bets on cutting-edge Web3 technologies and initiatives becoming major money spinners. Right now, artist avatars, digital collectibles, virtual landgrabs, and even blockchain-based memories, are proving irresistible investments. Back in the real world, record companies are busy developing their podcasting capabilities, while extending into film and TV productions and expanding their health and fitness activities. However, although all these may well have strong potential as revenue drivers, music companies need to ensure that they leverage their core competences to get the maximum out of any new ventures.
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