New issue of Music & Copyright

The latest issue of Music & Copyright is now available for subscribers to download. Here are some of the highlights.

IFPI reports an eighth straight year of rising recorded-music trade sales
International music trade body the IFPI has reported a positive set of results for the global recorded-music sector, with both digital and physical trade sales up for the second year in a row. Performance rights and synchronization income also registered a second consecutive annual rise after both revenue sources suffered a hit in 2020 from the COVID-19 pandemic. Streaming was again the main growth provider, with combined revenue from subscriptions and audio and video advertising accounting for more than two-thirds of global trade sales. Vinyl maintained its renaissance, with double-digit growth more than offsetting a slight dip in CD sales. The US and Canada region registered the lowest growth rate of the seven detailed regions, and sub-Saharan Africa scored the highest year-on-year rise. China replaced France in the global top five.

National trade groups tout streaming and vinyl as last year’s main recorded-music positives
To coincide with the IFPI’s publication of global recorded-music wholesale results, a number of national trade associations have revealed sales details for their respective markets. Although the level of detail differs between countries, all the results show a year-on-year rise in sales, with streaming and vinyl the main growth providers. Some countries registered a second year of rising physical sales, with vinyl gains more than offsetting declines in CD sales. In all cases, music subscriptions added the most to each country’s revenue pot and accounted for the greatest share of sales. However, without exception, subscription growth rates in 2022 were down on the rates in 2021.

The conundrum of making the streaming business model pay for all artists
The business of music streaming has been in existence for around 15 years. In that time, it has transformed the recorded-music industry’s fortunes from one suffering annual declines to one of consistent year-on-year growth. The IFPI confirmed the benefits of streaming in its global music report published earlier in March. However, for several years, the fairness of streaming payouts to artists has been questioned. Moreover, the streaming business model has remained largely unchanged for the short time it has been in existence. To make the sector more beneficial to all, UMG is partnering with Tidal and Deezer to try and develop an artist-centric model that supports artists at all stages of their careers and better rewards the engagement of music fans. The big question is, can streaming ever be transformed into a fairer business model for artists, and what happens if it can’t?

Women need help not hype to make their mark in the music industry
Female artists and music industry professionals are finding it hard to achieve anything like gender equality in their sectors. A raft of recent reports has delivered a deluge of metrics confirming the underrepresentation of women in the music charts, in the recording studio, in administration, and in the boardroom. And there is no shortage of initiatives—domestic and international—seeking to address what are evidently clear inequalities across the music industry. However, whatever their good intentions, many of these programs are clearly falling short, while some appear to be merely paying lip service to the issues. For any of these efforts to achieve their goals, there needs to be strong commitment from the organizations behind them and a very big dose of staying power.

If you would like more information about the newsletter or to set up a subscription, then send us an email Alternatively, if you would like to download a sample copy, just go here.