The value of global music copyright reached $45.5 billion in 2023, up 11% from the prior year, according to the latest annual industry tally by economist Will Page. When Page first calculated the value of various music copyright-related revenue streams in 2014, the figure was $25 billion—meaning music copyright could double in value in ten years. Record labels represented the largest share of global music copyright with $28.5 billion in 2023, up 21% from 2022. Streaming grew 10.4% and accounted for the majority of labels’ revenue. Physical revenues fared even better, rising 13.4%, while vinyl record sales improved 15.
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