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And the value of those copyrights has increased from $25 billion in 2014 to $45.5 billion now.
The movie business, by comparison, is a $33.2 billion business (see below).
As the bar chart above shows, cinema is still struggling to recover from pandemic closures, whereas the value of music copyright has soared. That said, the comparison isn’t a direct like-for-like, with live music also likely still recovering from forced closures a few years ago.
While music has soared movies have declined: box office revenues peaked globally in 2019 at $41.9 billion.
That means vinyl revenues are about to overtake CDs, not just in the US but globally.
There’s been a shift in how music generates money too.
As the bar chart above shows, cinema is still struggling to recover from pandemic closures, whereas the value of music copyright has soared. That said, the comparison isn’t a direct like-for-like, with live music also likely still recovering from forced closures a few years ago.
And interestingly, there’s been a significant increase in “glocalization”.
That’s where artists from around the world sing in their own languages but have big hits elsewhere.
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