IMPF：2023年全球独立音乐发布报告_27页_820kb

CONTENTS
1 INTRODUCTION
2 GLOBAL MUSIC MARKET VALUE
3 INDEPENDENT PUBLISHER ROLES AND FUNCTIONS
4 REVENUE STREAMS
5 REVENUE SHARE AND DISTRIBUTION
6 KEY CHALLENGES

EXECUTIVE SUMMARY

1. Global music rights market was worth $39.6 billion in 2021 (IFPI, CISAC data).
2. Music publishing sector generated $13.5 billion (€11.84bn) of this.
3. Public performance rights ($8.48bn) largely via CMOs, direct publisher revenue ($3.44bn) mostly synchronisation.
4. Global market value estimated at €7.68bn in 2021.
5. Recording sector generated proportionally higher revenues from streaming (~$30bn vs ~$6.5bn publishing).
6. Copyright societies take 50% of publisher share from public performance.
7. Imbalance fuels debate for revenue model changes (Publishers receive ~€4.24bn vs Recording receives ~€33bn? Detailed split unclear).

BACKGROUND / INDUSTRY VALUE

1. Music publishers handle songwriters' works, offering multiple services from development to worldwide licensing.
2. Play a vital role in fostering creativity and capturing value across various rights streams.
3. Account for over a quarter of the global mega-publisher market (~€2.08bn independent in 2021).
4. Resilience shown through pandemic recovery (2021 vs 2020 growth in some segments).

PUBLISHER ROLES AND FUNCTIONS

1. Custodians of songs, initial industry step for artists, financiers, career advisors, global promoters, interface with CMOs.
2. Intermediaries throughout the music ecosystem (labels, platforms, sync users).

ECOSYSTEM OVERVIEW

1. Authors (songwriters/composers/lyricists) create works under publishers' rights umbrella.
2. CMOs manage collective licensing and royalty collection for public performances.

STREAMS OF REVENUE

1. Public Performance (main source, especially digital)

2. Mechanical Rights (Streaming/downloading) declining share in traditional markets (US)

3. Synchronisation Rights (Increasing market, video/streaming growth)

4. Print & Lyrics (Secondary/diminished but still active)

5. Profit Share Debate: Concerns over publishing vs recording revenue share on streaming (e.g., DCMS, GEMA studies show creators get around 15-20%, publishers suggesting imbalance).

FUTURE TRENDS/CHALLENGES/CONSIDERATIONS

1. Streaming Growth & MLC (US example): Significant new royalties but complex market capture.
2. Persistent economic/copyright challenges (Slow recovery post-pandemic not universal, harmful legislation).
3. Strategic Imperatives: Rebalancing the streaming economics between rights holders.
4. Geographical Variations (e.g., high Indie share in India, Japan, France; less in Americas due to Major presence).
5. Digital Metadata & Rights Advocacy: Correct attribution ensures fair payment (Metadata is crucial).

MISSION STATEMENT (TO SUMMARIZE IMPF AGENDA)

1. Foster better environment for independent music publishing.
2. Promote independent publishers as vital creative and cultural drivers globally.
3. Work towards fair compensation models through industry dialogue and action.
4. Support policies favoring creators and cultural diversity.
   (Mathematical basis for calls to change streaming splits: The proportion of subscriber payment that goes to music publishing is significantly lower than that going to recordings or performance).