“If you had suggested this in 2015, you would have been laughed out of the room”: Music is now reportedly bigger than cinema globally

Record store.

The value of global music copyright soared to a record high last year, and has overtaken the value of the cinema box office for the first time, according to a new report published by former Spotify Chief Economist Will Page.

In the report, Page attempts to calculate an overall picture of the value of music copyright revenues, including the multitude of varied revenue streams such as mechanical rights – ie when music is reproduced or distributed – and performing rights.