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Industry Landscape
The music and media industry is rapidly evolving, driven by digital transformation and changing consumption habits. Streaming dominates revenue, while diverse content formats and global reach are paramount. Business intelligence and data analytics are crucial for stakeholders, as are events for networking and insights. Adaptation to new technologies and diverse audience needs is key.
Total Assets Under Management (AUM)
Global Recorded Music Revenue in United States
~Not directly provided for US specifically, but globally 33.6 billion USD in 2023 (IFPI)
(10.2% CAGR)
Growth driven by streaming, which accounts for 67% of total revenue. Physical formats saw continued growth. Performance rights and synchronisation revenue also contributed positively.
Total Addressable Market
33.6 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Music Creation & Curation
AI tools for music generation, mastering, and personalized content recommendation are revolutionizing content production and discovery.
Blockchain & NFTs for Music Rights
Blockchain technology and Non-Fungible Tokens (NFTs) offer new paradigms for transparent rights management, royalty distribution, and artist-fan engagement.
Immersive Experiences (Metaverse/VR/AR)
Virtual and augmented reality technologies are enabling new forms of live music experiences, fan interaction, and monetization within virtual worlds.
Impactful Policy Frameworks
American Music Fairness Act (AMFA) 2023
The American Music Fairness Act (H.R. 1948) aims to require terrestrial radio broadcasters to pay royalties to artists and record labels for the use of their music, aligning with streaming services.
If enacted, this policy would significantly alter revenue streams for artists and labels, potentially increasing their income, while impacting the profitability model of traditional radio.
Copyright Royalty Board (CRB) Phonorecords III Remand 2022
The CRB's Phonorecords III remand decision upheld and slightly adjusted the mechanical royalty rates for songwriters and publishers from interactive streaming services for 2018-2022, settling long-standing disputes.
This policy provides more clarity and potentially increased mechanical royalties for songwriters and publishers, impacting their financial compensation from streaming platforms.
EU Digital Services Act (DSA) 2022
While an EU regulation, the Digital Services Act (DSA) sets out new rules for online platforms regarding content moderation, transparency, and accountability, impacting global platforms and their users including in the US.
The DSA indirectly affects US-based digital media platforms and potentially their users by setting precedents for content governance and data handling, influencing how music content is moderated and distributed online.
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