International Journal of Music Business Research – October 2022, vol. 11, nr. 2

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Volume 11, no 2, October 2022

Editorial by Peter Tschmuck, p. 45

Kjersti Livesdottir Thorkildsen & Anders Rykkja: Showcase Festivals: Gatekeepers and Bridge Builders in the Music Industries, pp. 47-58

Mihail Miller & Stephan Klingner:  Reframing the Economic Rationale of Music Publishers’ Relationships with Rights Management Entities – Shifting to a Systematic Approach, pp. 59-76

Nadia Whiteman-Charles: The Hustla Playbook: Negotiating the Business Politics of Reggae in the Jamaican Rock Music Scene, pp. 77-87

Book review by Erik Hitters: Richard Osborne and Dave Laing† (eds.) (2021) Music by numbers. The use and abuse of statistics in the music industries, pp. 89-90

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The Blockchained Music Business – towards a Global Music Rights Database?

On March 3, 2017, an international workshop on “The Blockchained Music Business” was organized by the Department of Cultural Management and Gender Studies (IKM) of the University of Music and Performing Arts Vienna and the Music Information Center Austria (MICA). Carlotta De Ninni (Mycelia for Music Foundation, London), Peter Jenner (Sincere Management, London) and Benji Rogers (PledgeMusic & Dot Blockchain Music, New York) were the workshop supervisors focusing on different aspects of the blockchain technology’s impact on the music business. The third part of the workshop’s summarizes the results of the workshop group discussing the question, if the blockchain is a useful tool for setting up a global music rights database. The workshop group was supervised by Peter Jenner (Sincere Management, London) and you find the summary here:

The Blockchained Music Business – the Intermediaries’ Perspective

On March 3, 2017, an international workshop on “The Blockchained Music Business” was organized by the Department of Cultural Management and Gender Studies (IKM) of the University of Music and Performing Arts Vienna and the Music Information Center Austria (MICA). Carlotta De Ninni (Mycelia for Music Foundation, London), Peter Jenner (Sincere Management, London) and Benji Rogers (PledgeMusic & Dot Blockchain Music, New York) were the workshop supervisors focusing on different aspects of the blockchain technology’s impact on the music business. In the second part of the workshop’s summary, we focus on the discussion of the workshop-group on the impact of blockchain technology on the music industry’s intermediaries that was supervised by Benji Rogers (PledgeMusic & Dot Blockchain Music, New York).

The Global Music Publishing Market – An Analysis

In a Music Business World Wide article[1], music industry analyst Will Page calculated a value of US $11.34bn for the global music publishing market in 2014. The number comprises of US $7.55bn for the collection of performance fees, US $1.32bn for mechanical collections and US $0.35bn for private copying collections by CISAC[2] members and US $0.42bn for non-CISAC mechanical collections (e.g. Harry Fox Agency collections). Further US $1.70bn of revenue have to be added for music directly licensed by the publishers (“grand rights” and synchronisation rights).

 

Figure 1: The global value of the music publishing market in 2014

Source: After Music Business World Wide, “$25 billion: The best number to happen to the global music business in a very long time”, December 10, 2015 (retrieved January 19, 2016)

 

The analysis highlights that music publishing is as relevant as the recorded music industry with a global market volume of about US$ 15bn. Therefore, this blog post analysis the global music publishing market in a long-term perspective and investigates economic relevance of music publishing for the music majors – Universal Music Group, Sony Music Entertainment and Warner Music Group – as well as the structure of the global music publishing market.