You may have seen Taylor Swift’s WSJ op-ed this week describing herself as an “enthusiastic optimist” on the music industry, arguing “it’s not dying, it’s just coming alive.”
Downtown Music Publishing’s founder/president Justin Kalifowitz shares her sentiment, but he argues that she’s wrong to broadly suggest the music industry as a whole has been suffering – he says it’s just the record industry.
Justin says that the music publishing industry is currently seeing steady and stable growth. Over the past year, almost every country has shown positive growth in music publishing revenues. See a private chart of worldwide revenue increases HERE.
The NMPA recently estimated that the value of the U.S. music publishing industry generated $2.21B in 2014, and if it were not for unfair rates imposed on songwriters and publishers by Congress, it could generate more than $4B. The Songwriter Equity Act is one of the key drivers that could double revenues.