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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.
29:07
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Quick takeaways
- The global music copyright industry has reached a valuation of $45.5 billion, driven primarily by the rise of streaming services and consumer demand for diverse formats like vinyl.
- Emerging markets, particularly in Latin America, exhibit significant streaming volumes but require improved monetization strategies to close the gap between volume and value in the music industry.
Deep dives
Valuation of the Music Industry
The estimated value of the global music copyright industry has reached $45.5 billion, highlighting significant growth from previous years. This figure represents a notable increase reflecting the transformation brought on by streaming services and other market dynamics over the last decade. For instance, streaming has revolutionized the industry, driving revenue growth while resurgence in formats like vinyl continues to add substantial value. With streaming platforms capturing nearly equal segments of the market, this growth indicates a robust future for the industry overall.
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