음악 로열티 시장 : 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the music royalty market size is projected to expand from USD 37.96 billion in 2025 and USD 40.43 billion in 2026 to USD 55.52 billion by 2031, registering a CAGR of 6.55% between 2026 to 2031.

This report is Segmented by Type (Performance Royalties, Mechanical Royalties, and More), Channel (Streaming Platforms, Broadcasting and Digital Radio, Film, Television, and OTT Media, Gaming and Interactive Media, and More), End-User (Independent Artists, Songwriters and Composers, Music Publishers, Record Labels, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Music Royalty Market Trends and Insights

Accelerating Digital Streaming Monetization

Digital streaming remains the main engine of expansion for the music royalty market because it keeps converting listening activity into recurring licensed revenue across many territories at once. IFPI reported that streaming revenues continued to expand and represented the majority of global recorded music income, confirming how central platform monetization has become to the market's current structure. ASCAP also indicated that licensed performances in the United States continued to grow, supported by rising domestic revenues and stronger foreign revenue collections. Spotify stated that 2025 delivered its largest annual music publishing payout and that more than 13,800 artists generated at least USD 100,000 from Spotify alone during the year. That pattern matters for the music royalty market because it shows that growth is not limited to the very top of the catalog stack and is reaching a wider earnings base. It also suggests that rights owners with stronger licensing terms, deeper catalogs, and better administrative control should continue to capture disproportionate gains as digital usage keeps rising.

Expanding Public Performance Licensing Coverage

Public performance licensing is widening the addressable base of the music royalty market, especially in regions where collection systems are becoming more formal and digital revenue is taking a larger role.CISAC reported that India's IPRS recorded strong growth in creator revenues, supported by the rising contribution of digital streaming to overall collections. The same report also showed that Africa continued to improve creator royalty collections, indicating that collection coverage is strengthening even in markets where monetization systems are still developing. WIPO's Good Practice Toolkit for Collective Management Organizations adds a practical framework for governance, transparency, and cross-border handling, which supports more consistent society operations over time. For the music royalty market, that combination of higher collections and stronger operating standards reduces leakage in markets that previously contributed less than their usage levels implied. It also improves the position of rights holders that depend on society efficiency rather than direct platform bargaining.

Value Leakage in Bundled and Discounted Subscriptions

Bundled and discounted subscriptions remain the clearest near-term drag on the music royalty market because they change how platform revenue is allocated before it reaches rights holders. The source draft shows that bundle reclassification has already altered the balance between performance and mechanical royalty pools in the United States, which creates direct pressure for publishers whose collections depend heavily on mechanical income. The same draft also notes Spotify's disclosed potential liability tied to the bundle question, which shows that the issue is material enough to sit at the center of active legal and commercial dispute. This problem matters beyond one platform because any market that bases statutory or negotiated royalty flows on service revenue can face similar pressure when a music subscription is folded into a wider bundle. For the music royalty market, the consequence is not weaker listening demand but weaker value capture per paid user. Unless courts, regulators, or contract revisions change the treatment of bundled tiers, royalty leakage is likely to remain a persistent check on publishing-side upside.

Other drivers and restraints analyzed in the detailed report include:

1. Growth In Short-Form Video And Social Commerce
2. Rising Synchronization Demand From OTT, Gaming, and Advertising
3. High Royalty Dispute, Matching, and Reproduction Error Rates

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Sound Recording and Master Royalties held a 41.57% share of the music royalty market in 2025, which made them the largest royalty type in the current revenue mix. That position reflects the persistent weight of master ownership, especially where large catalogs can be licensed repeatedly across streaming, sync, broadcast, and neighboring rights channels. Performance Royalties also remain central to the music royalty market because the NMPA reported that they accounted for 52% of U.S. music publishing revenue in 2025. The same NMPA breakdown showed Synchronization Royalties at 24% and Mechanical Royalties at 19%, which underlines how streaming has changed the balance of publishing income without removing the role of screen-based licensing. Digital collections across CISAC's network reached EUR 5 billion (USD 5.7 billion) in 2024 for the first time, which confirms that the music royalty industry is moving deeper into digitally administered performance and mechanical flows.

The music royalty market size for Synchronization Royalties is projected to expand at a 10.82% CAGR through 2031, which makes this the fastest-growing type in the current forecast. That growth fits with a wider licensing environment where music is now embedded across OTT releases, creator content, advertising formats, and interactive entertainment. It also raises the relative value of works and recordings that can be cleared quickly, tracked accurately, and reused across several media settings without ownership ambiguity. CISAC's ISWC-ISRC linking program supports that direction because faster linking of compositions and recordings should shorten attribution delays once a work is released. The Others category still has a role in the music royalty market through neighboring rights, private copying, and library-related income, but its growth path remains more dependent on territory-specific rules and collection practices than the leading types.

Complete Report Scope:

• By Type
  • Performance Royalties
  • Mechanical Royalties
  • Synchronization Royalties
  • Sound Recording and Master Royalties
  • Other Types
• By Channel
  • Streaming Platforms
  • Broadcasting and Digital Radio
  • Film, Television, and OTT Media
  • Gaming and Interactive Media
  • Other Channels
• By End-users
  • Independent Artists
  • Songwriters and Composers
  • Music Publishers
  • Record Labels
  • Other End-Users
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Chile
    • Rest of South America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • Middle East
    • Saudi Arabia
    • United Arab Emirates
    • Qatar
    • Rest of Middle East
  • Africa
    • South Africa
    • Egypt
    • Nigeria
    • Rest of Africa

Geography Analysis

North America accounted for 39.42% of the music royalty market in 2025, which kept it as the largest regional revenue base in the current structure. ASCAP reported record 2025 revenue of USD 1.945 billion and royalty distributions of USD 1.759 billion, supported by streaming audio, radio, and general licensing collections. SoundExchange also distributed USD 991.5 million in 2025 and crossed USD 13 billion in cumulative distributions in March 2026, which highlights the maturity of North America's digital performance system. CISAC placed North American creator royalty collections at EUR 3.5 billion (USD 3.9 billion) in 2024, up 10% year over year, which shows that the regional base was still expanding before the current bundle dispute intensified. The main constraint for the music royalty market in North America is not weak demand but the risk that subscription bundling and royalty allocation disputes slow the conversion of platform income into publisher and songwriter payments.

Europe remains the second-largest collection base in the music royalty market, with CISAC-affiliated societies collecting EUR 7.6 billion (USD 8.6 billion) in 2024, up 6.7% from the prior year. SACEM reported 2025 revenue of EUR 1.804 billion, or USD 2.04 billion, and said its direct collection infrastructure now extends to nearly 180 countries, which gives Europe a strong cross-border administrative position. PRS for Music collected GBP 1.24 billion, or USD 1.63 billion, in 2025 and paid out GBP 1.07 billion, or USD 1.41 billion, which confirms continued strength in one of the region's largest rights markets. Europe's role in the music royalty market is also supported by improving cost efficiency in administration and by a regulatory setting that keeps platform transparency and reporting obligations under close review.

Asia-Pacific is projected to grow at an 11.83% CAGR through 2031, which gives it the fastest regional growth path in the music royalty market. IFPI reported that China's recorded music revenues grew 20.1% in 2025, which made it the fastest-growing market in the global top 20 and lifted it to the world's fourth-largest recorded music market. CISAC reported that India's IPRS increased creator revenues by 40.5% in 2024 to EUR 80.5 million (USD 91.77 million), with digital streaming making up 82.7% of collections, which points to strong monetization progress from a still-developing base. South America, the Middle East, and Africa also showed strong recorded music growth in 2025, but the music royalty market still has a larger monetization gap there because collection infrastructure trails underlying consumption. That leaves these regions as longer-term upside areas where better compliance, stronger society operations, and cleaner rights data could translate usage growth into higher royalty capture.

1. Sony Music Publishing
2. Universal Music Publishing Group
3. Warner Chappell Music
4. Kobalt Music Group
5. BMG Rights Management
6. Concord Music Publishing
7. Downtown Music Holdings
8. Reservoir Media
9. Peermusic
10. ASCAP
11. BMI
12. SESAC Music Group
13. PRS for Music
14. SACEM
15. GEMA
16. SoundExchange
17. The Mechanical Licensing Collective
18. PPL
19. Merlin Network Limited
20. Universal Music Group

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Accelerating Digital Streaming Monetization
  • 4.2.2 Expanding Public Performance Licensing Coverage
  • 4.2.3 Growth in Short-Form Video and Social Commerce Licensing
  • 4.2.4 Rising Synchronization Demand From OTT, Gaming, and Advertising
  • 4.2.5 Cross-Border Royalty Collection Standardization
  • 4.2.6 Improved Data Matching, Fingerprinting, and Royalty Auditability
• 4.3 Market Restraints
  • 4.3.1 High Royalty Dispute, Matching, and Reprocessing Costs
  • 4.3.2 Fragmented Territorial Licensing and Administration Rules
  • 4.3.3 Unmatched Works and Metadata Gaps
  • 4.3.4 Faster Value Leakage in Bundled and Discounted Streaming Models
• 4.4 Industry Value Chain Analysis
• 4.5 Impact of Macroeconomic Factors on the Market
• 4.6 Regulatory Landscape
• 4.7 Technological Outlook
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Bargaining Power of Buyers
  • 4.8.2 Bargaining Power of Suppliers
  • 4.8.3 Threat of New Entrants
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Type
  • 5.1.1 Performance Royalties
  • 5.1.2 Mechanical Royalties
  • 5.1.3 Synchronization Royalties
  • 5.1.4 Sound Recording and Master Royalties
  • 5.1.5 Other Types
• 5.2 By Channel
  • 5.2.1 Streaming Platforms
  • 5.2.2 Broadcasting and Digital Radio
  • 5.2.3 Film, Television, and OTT Media
  • 5.2.4 Gaming and Interactive Media
  • 5.2.5 Other Channels
• 5.3 By End-users
  • 5.3.1 Independent Artists
  • 5.3.2 Songwriters and Composers
  • 5.3.3 Music Publishers
  • 5.3.4 Record Labels
  • 5.3.5 Other End-Users
• 5.4 By Geography
  • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
  • 5.4.2 South America
    • 5.4.2.1 Brazil
    • 5.4.2.2 Argentina
    • 5.4.2.3 Chile
    • 5.4.2.4 Rest of South America
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Spain
    • 5.4.3.6 Rest of Europe
  • 5.4.4 Asia-Pacific
    • 5.4.4.1 China
    • 5.4.4.2 Japan
    • 5.4.4.3 India
    • 5.4.4.4 South Korea
    • 5.4.4.5 Australia
    • 5.4.4.6 Rest of Asia-Pacific
  • 5.4.5 Middle East
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 Qatar
    • 5.4.5.4 Rest of Middle East
  • 5.4.6 Africa
    • 5.4.6.1 South Africa
    • 5.4.6.2 Egypt
    • 5.4.6.3 Nigeria
    • 5.4.6.4 Rest of Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 Sony Music Publishing
  • 6.4.2 Universal Music Publishing Group
  • 6.4.3 Warner Chappell Music
  • 6.4.4 Kobalt Music Group
  • 6.4.5 BMG Rights Management
  • 6.4.6 Concord Music Publishing
  • 6.4.7 Downtown Music Holdings
  • 6.4.8 Reservoir Media
  • 6.4.9 Peermusic
  • 6.4.10 ASCAP
  • 6.4.11 BMI
  • 6.4.12 SESAC Music Group
  • 6.4.13 PRS for Music
  • 6.4.14 SACEM
  • 6.4.15 GEMA
  • 6.4.16 SoundExchange
  • 6.4.17 The Mechanical Licensing Collective
  • 6.4.18 PPL
  • 6.4.19 Merlin Network Limited
  • 6.4.20 Universal Music Group

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment