Live performance and publishing licensing now outstrip recorded music as revenue pillars

Evidence

A richer, more complex perspective of the interrelated music industries would consider multiple overlapping sectors, as is often done in government studies. In addition to recording would be publishing—a growing sector, as licensing to film, television, video games, advertising, social media, and other platforms increasingly provides significant revenue streams. Live performance has always been crucial to an artist’s income, but the sector as a whole has dramatically increased in the past two decades as ticket prices have surged and the festival circuit has expanded. — Andrew deWaard, Derivative Media, 181