Music Industry News – Global Music Publishing Up 8.4%/ UGC Could be Worth $6B/ YouTube Up 32% in Q3

Billboard Article on Diane Warren’s new album:

Geoff Edgers article on Billy Joe Shaver:

Georgia On A Fast Train by Billy Joe Shaver:

If I Give My Soul by Billy Joe Shaver:

In this video:
Global music publishing collections grew to €8.96 billion ($10.04 billion) in 2019, up 8.4% from the year prior among members, according to an announcement made by international collection society trade group CISAC. Digital revenue drove most of that increase, which was up 27.2%, growing to €2.05 billion ($2.3 billion) from €1.61 billion in 2018. CISAC executives hope that digital can sustain that pace this year. With the ongoing global pandemic, it is predicted that global collections will experience a 20-35% decrease for 2020.

London-based MIDiA Research, in partnership with Audible Magic, announced that user-generated content (UGC) could be worth around $6 billion to the music industry over the next two years. Music-related UGC is estimated to be worth $4 billion in 2020 alone, with $2.2 billion of that being an estimate of potential music rights holder income. A big driver of growth in music-related UGC revenues in 2019 was social media platform TikTok, which reported to have hit $1.2 billion globally by March last year.

In a statement by Alphabet CFO Ruth Porat, YouTube was up 32% in advertising revenue during the third quarter of 2020, compared with the same period a year earlier, earning a total of $5 billion and additionally driving a 14% increase in overall quarterly revenue for parent company Alphabet. The video platform was reported to bring in $15 billion in advertising in 2019.

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#GlobalMusicPublishing #MusicUGC  #YouTube  #ExplorationWeekly #MusicIndustryNews

You can view the original video HERE.

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