Why Music is a $40+ Billion Industry

How much money does the music industry really make on an annual basis? The answer is not as straightforward as you think. Most of the outlets that publish figures only report on one side of the business. But since 2014, former Spotify chief economist and author Will Page has made it his job to answer this question in his annual report on global music copyright. This year the global value is at $41.5 billion.In this episode, I’m joined by Will and friend of the show, Tati Cirisano from MIDiA Research. We dive deep into the key findings of the report, the growth of publishing, vinyl sales, why “back catalog” is a dated term, AI’s disruption, and a whole lot more.[00:04:06] The need for data transparency[00:30:51] The rise of vinyl[00:46:43] How music relates to gaming[00:54:42] Streaming price increasesThis episode is brought to you by DICE. Want to learn more about how you and your artists can reach a packed room of your superfans? Learn more at dice.fm/partnersWant to write a guest post while I’m on paternity leave in 2024? Here’s the form to fill outEnjoy this podcast? Rate and review the podcast here! ratethispodcast.com/trapitalTrapital is home for the business of music, media and culture. Learn more by reading Trapital’s free memo.