The National Music Publishers Association annual member survey found that its U.S. publisher members had revenue of $3.3 billion -- up 11.8% growth from last year’s $2.957 billion -- according to NMPA president and CEO David Israelite.
For the first time in recent memory, the U.S. music publishing sector grew at the same rate as the recorded music sector, said president and CEO David Israelite.
He also noted that the pie chart looks the same, even as the pie gets bigger, meaning the various licenses are growing at the same pace. Moreover, while record labels derived 86% of revenue from digital, he said music publishers have more diverse income streams driving their growth. "The key takeaway is that the state of the industry is strong," he declared.
As for Spotify, Amazon, Google and Pandora's recent appeal of the CRB rate increase, Israelite said, "It's bad enough we have a compulsory license. It's worse that after two years of rate trail, we are not yet getting the rate because of an appeal." But he assured the NMPA members that the NMPA would continue the fight for the rates that were won.
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