Out of tune: Competition from free digital sheet music will contribute to the industry's decline

Over the past five years, competition from free digital substitutes and self-publishing platforms has considerably reduced demand for the Sheet Music Publishers industry. Moreover, while online retailers now account for a considerable share of sheet music sales, such platforms have enabled consumers to shop around for the least expensive sheet music, hampering industry revenue. Limited government funding for creative arts has further contributed to revenue declines, with limited appropriations toward music programs driving down educator spending on sheet music. Consequently, over the five years to 2016, industry revenue is expected to fall. As disposable incomes and economic conditions rebound in the next five years, demand for price-premium sheet music is projected to climb...purchase to read more.

Industry Statistics & Market Size
Revenue
$254m
Annual Growth 13-18
-1.8%
Forecast Growth 18-23
Profit
Employment
298
Businesses
119

Industry Threats & Opportunities

  • Limited government funding for creative arts has contributed to industry revenue declines
  • Lower demand caused industry employment to decline
  • Easier access to legitimate sheet music online will facilitate industry sales
  • Industry Report - Industry Locations Chapter

    Sheet music publishers are concentrated in several major cities throughout the United States, where they house most staff for proximity to artists and major music hubs. Companies are also concentrated near where university publishing houses with similar distribution circuits are located. The localization in highly populated areas also cuts costs on book delivery, enabling sheet music publishers to earn greater profit. Regionally, the West, with 34.7% of enterprises, has the greatest share of sheet music publishers because it is home to the industry's largest publishing houses. On the state level, California hosts the majority of sheet music publishers due to its strong music scene, with 31.9% of enterprises located there. New York accounts for the second-largest share, hosting 19.2% o...purchase to read more.

    Additional Insights for the Sheet Music Publishers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Sheet Music Publishers Industry are

  • Management of a high-quality assets portfolio
  • Protection of intellectual property/copyrighting of output
  • Having a wide and expanding product range
  • IBISWorld analysts also discuss how external factors such as Demand from musical instrument and supplies stores and Federal funding for creative arts in the Sheet Music Publishers industry impact industry performance..

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    What's in this report

    What is the Sheet Music Publishers Industry?

    This industry primarily publishes sheet music, songbooks and digital sheet music. Educators, students, musicians and hobbyists use the industry’s products. Revenue generated from sheet music published exclusively in digital format is excluded from the industry.

    Industry Products
  • Music books
  • Individual pieces
  • Industry Activities
  • Converting sound clips to sheet music
  • Editing sheet music and similar products
  • Designing sheet music, books, folios and other products
  • Marketing sheet music and other products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from musical instrument and supplies stores
  • Federal funding for creative arts
  • Per capita disposable income
  • Percentage of services conducted online
  • Time spent on leisure and sports

  • Current Performance
  • Performance and profit
  • Products and distribution
  • Declines from digital
  • Dwindling demand
  • Chart: Revenue Growth

  • Industry Outlook
  • Digital transition eases profit pressure
  • Contracting market
  • Table: Sheet Music Publishers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Sheet Music Publishers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Educational Services
  • Religious Organizations
  • Wholesale electronic markets and agents and brokers
  • Consumers

  • Key Selling Industries
  • Audio Production Studios
  • Ink Manufacturing
  • Paper Wholesaling
  • Performers & Creative Artists
  • Printing

  • Products & Services
  • Music books
  • Individual pieces
  • Other
  • Chart: Sheet Music Publishers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Educational institutions
  • Performing arts companies
  • Other
  • Religious organizations
  • Chart: Major Market Segmentation for the Sheet Music Publishers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Sheet Music Publishers

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Sheet Music Publishers Industry

  • Industry Globalization
    Hal Leonard Corporation, Alfred Music Publishing,
  • Table: Hal Leonard Corporation - financial performance
  • Table: Alfred Music Publishing - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Sheet Music Publishers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Sheet Music Publishers Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Federal Funding for Creative Arts (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick-And-Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • Digital Rights Management (Drm)
  • Limitations on the use of digital content and relative devices.
  • Folio
  • A collection of a variety of sheet music.
  • In-House
  • Performing an activity within a company as opposed to outsourcing it.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Sheet Music Publishers Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Sheet Music Publishers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Sheet Music Publishers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Sheet Music Publishers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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