Report: Universal Music had largest market share in 2016

A joint report by UK research company MIDiA and Music Business Worldwide on the breakdown of global music market share by revenue found that Universal Music remained the leader.

The market posted a growth, helped by streaming rising to 34% of labels’ revenue from 23% in 2015.

Universal Music had a revenue share of 28.9% – well ahead of its nearest rival, Sony Music, at 22.4%. A 56% rise in streaming revenue fuelled its growth, while the company had a 6% rise in physical market share.

Universal Music Publishing’s market share was largely flat at 16.7% for 2016.

Sony had a 13% rise in revenue, the best performance from the three majors. It built its market share up from 21.3% in 2015. Its streaming revenue was up 57% in US dollar terms.

Sony Music Publishing (including ATV) revenue fell by 1%, resulting in market share dropping from 24.3% in 2015 to 23% in 2016.

Warner Music grew its revenue by 11% and its market share from 16.8% to 17.4%. Its streaming revenue was up 51% in 2016 but its streaming market share shrunk from 19.3% in 2015 to 18.4%.

Its publishing arm, Warner Chappell, had a good year, growing revenue by 9% year-on-year and increasing its market share from 9.6% in 2015 to 10% in 2016.

As for independents, their revenue grew by 6%, but they lost market share, falling from 31.6% in 2015 to 31.3% in 2016.

MIDiA acknowledges that the indies’ share is probably higher, because its data is based on distribution rather than ownership. Most labels are distributed by majors or distributors owned by majors.

In terms of publishing, the independents showed growth in 2016, helped by the expansion of Kobalt and BMG. Their share was 50.1%, up from 49.4% in 2015.