Music publishing hit $11.1 billion in 2024, surpassing labels as the industry’s most consistent winner [IMS Ibiza 2025 Report]

Music publishing revenue outperformed labels again in 2024, with renewed investor confidence and stronger growth from streaming.

Music publishing remained a growth engine in 2024, posting $11.1 billion in revenue despite a slight deceleration from 2023. Once again, it outpaced label growth, underscoring publishing’s increasing appeal to investors.

This year, streaming income for publishers grew by 11%, outstripping labels’ 6%, while DSPs surged 18%, capturing more value across the ecosystem. Catalogue deals returned in strength, especially for material from the 1990s–2010s, signaling continued confidence in the long-term value of songwriting.

The shift reveals a recalibration of how the market sees value. As platforms expand, the timeless core of publishing continues to generate dependable returns. Music Publishing has become the industry’s sleeper success – steady, strategic, and increasingly lucrative.

You can download the IMS Business Report, written by Mark Mulligan and MIDiA research here.