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Global Music Copyright Value Soared to $45.5 Billion in 2023
The value of global music copyright reached $45.5 billion in 2023, up 11% from the prior year, according to the latest tally by economist Will Page.
CD sales are still high in Japan and across Asia, but Page points out that vinyl is selling more units at increasingly higher prices. Additionally, CMOs’ digital collections exceeded revenues from broadcast and radio, reflecting the extent to which streaming has usurped the power of legacy media. “Anyone trying to capture the attention of policymakers who doesn’t grasp the threat posed by AI, for example, may find it handy to have a big number showing what’s at stake,” he wrote in the report.
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