How Much Is The Global Music Biz Worth?
December 21, 2016 at 6:05 AM (PT)
Last week (NET NEWS 12/15), ALL ACCESS reported that The RADIO MUSIC LICENSE COMMITTEE and ASCAP had inked a new five-year agreement that sets music royalty rates payable by commercial broadcast radio stations through 2021.
Then, just over three weeks ago (NET NEWS 11/21), the RADIO MUSIC LICENSE COMMITTEE filed an antitrust suit against IRVING AZOFF's GLOBAL MUSIC RIGHTS, alleging that the upstart performance rights licensing agency is a monopoly controlling the music in its catalog.
Now, MUSIC BUSINESS WORLDWIDE asks, ":How much is the global music business really worth?"
The report notes, "The regularly-cited answer to that question: $15 billion. That’s the (approximate) figure the IFPI has placed on the recorded music business’s annual revenues for the past few years. In 2016, according to early estimates, that figure looks likely to rise up towards $16 billion. But in truth, it still only conveys one part of the music copyright landscape."
Read the full article here.