CLEVELAND, March 9, 2017 /PRNewswire/ -- US music production and publishing industry revenues are forecast to total $16.9 billion in 2021, representing 4.0% annual growth from $13.9 billion in 2016, according to Music Production & Publishing, a report recently released by Freedonia Focus Reports. Advances will be driven by global growth in disposable personal income levels. Gains will also be supported by ongoing stabilization as the industry emerges from a historical period characterized by technology-driven disruption.
In addition, advances will continue to be driven by new releases from leading artists. Furthermore, rising demand for digital albums and vinyl records will offset continued losses in CD sales and digital singles. This feat will be possible, despite the lower revenue generation potential of single-track digital sales, in light of CDs diminished market share. For perspective, revenues from CDs dropped 86% between 2006 and 2016.
This report forecasts US music production and publishing industry revenue in US dollars to 2021. Total revenue is segmented by service in terms of:
- record sales
- studio recording services
- copyright administration
- print music
- other services such as audiobook recording, event recording, and stock music and sound libraries
More information about the report is available at https://www.freedoniafocusreports.com/Music-Production-Publishing-United-States-10693847/
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-music-production-and-publishing-revenues-approach-17-billion-300421357.html
SOURCE The Freedonia Group