Trapital Unpacking The Value of Music
Dec 6, 2024
Will Page, former chief economist at Spotify and author of the global music copyright report, dives into the multifaceted value of music, now at $45.5 billion. He discusses the influence of glocalization on music markets from Colombia to Brazil, the growth of vinyl, and the disparity in streaming revenue across regions. Will also highlights the importance of better measuring emerging markets and explores the challenges faced by non-American artists, emphasizing the need for innovative strategies in the evolving music landscape.
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Music Business Value
- Few sources offer a complete view of music's total value, combining recorded and publishing sides.
- Most reports focus on either recorded or publishing, not the whole music copyright.
North-South Divide in Streaming
- Streaming volume is growing globally, but revenue (value) remains concentrated in the West.
- North America and Europe have 48% of volume but 80% of value, highlighting a revenue gap.
Colombian Music Exports
- Colombian music exports to the US generate more value than Colombia's entire domestic music industry.
- This highlights the power of streaming and 'musical streaming tourism'.
