Media & Entertainment Music Sector
MUSIC SECTOR
Introduction
The International Trade Administration’s Global Media & Entertainment (M&E) Team: Music Sector, Supports the U.S. copyright and music sectors with licensing, export and expansion plans to international markets. Our global network of experienced trade professionals is located throughout the United States and in U.S. Embassies and Consulates worldwide.
Industry Overview
- The global music industry contracted 23% in 2020 due to the pandemic to $80.2B, while the U.S. music industry contracted 20.8% to $35.5B. Top 5 markets ($): USA, Germany, Japan, UK and China.
- While streaming and subscription services continued to grow exponentially, following a 15-year lull due to digital disruption; growth stagnated for live performance, touring and the overall gig economy worldwide, shuttering events & stages in 2020 and forcing many musicians and companies to pivot to virtual or new services.
- 180 million Americans subscribe to music streaming services.
- Global growth is largely driven by streaming services in 2020 and major music markets include: USA, Germany, Japan, UK, France, South Korea, China, Canada, Australia, and Brazil—with many smaller, key markets and an abundance of genres across the world.
- Social media and digital tech firms are driving additional growth for music publishing and synch licensing for film, MVOD and advertising is a major driver.
- Podcast listeners are increasing steadily worldwide to reach $842M in 2020 (data measured in select global markets).
What the Global Media & Entertainment Team offers to the Music Sector?
- Trade Counseling: Our specialists will work with you to determine markets, publishing trends, entry challenges, understanding copyrights in foreign countries, conduct background checks on potential partners, and more.
- Business Matchmaking: We’ll identify and introduce you to potential international business partners via our Gold Key Service including agents, distributors, licensors, record labels, publishers, publicists & A/R, streaming and mobile services, performance rights organizations (PROs), synch licensing partners for film, TV & advertising, touring, venue and merchandising firms, and government & trade organizations
- International Vetting: If you’ve identified a potential international partner, we can vet that organization via our International Company Profile service.
- Team Activities: Engage with domestic trade associations, Congressional bodies such as the Internet Caucus, International Ministries of Trade, or Culture or their industry Export Bureaus to facilitate trade. Implement trade missions, attend trade shows, and other trade events to promote international business. Organize webinars that highlight policy and regulatory issues and identify best prospect markets.
Questions?
Carmela Mammas
Director, CS New York, NY