NMPA Reveals U.S. Music Publishing Revenue Surges to $7.3 Billion in 2025 Amid $500M Loss from Streaming Bundling

U.S. music publishing revenue reached $7.3 billion in 2025, according to the National Music Publishers’ Association (NMPA), announced during its annual meeting on June 10. This figure marks an increase from $7.04 billion in 2024 and $6.2 billion in 2023.

Annual Meeting Highlights

The meeting, held at Alice Tully Hall in New York’s Lincoln Center, serves as a key gathering for U.S. music publishers and features top industry executives and songwriters. Danielle Aguirre, NMPA’s Chief Legal Officer and Chief Operating Officer, emphasized the financial health of the U.S. publishing sector. She discussed the impact of subscription bundling strategies by Spotify and Amazon, which have resulted in a nearly $500 million loss in value for songwriters and publishers due to reduced mechanical royalty rates.

Impact of Bundling on Revenue

The bundling approach, which offers multiple services at a discounted price, has been a contentious topic since its introduction. Aguirre noted that the first year of bundling led to a loss of $230 million for songwriters and publishers. Despite this, Spotify has made efforts to negotiate deals with NMPA members to enhance songwriter remuneration. However, these agreements primarily opened new revenue streams for music video licensing rather than altering the U.S. mechanical rate.

Financial Breakdown

The NMPA’s annual meeting revealed that U.S. publishing revenue has consistently outpaced the growth of recorded music for four consecutive years. The revenue distribution for 2025 is as follows:

• Performance: 52%
• Sync: 24%
• Mechanical: 19%
• Other: 5%

Aguirre also highlighted that deals negotiated by the NMPA in the past fiscal year have resulted in approximately $110 million distributed to its members, bringing the total legal recovery under the “modern NMPA” to nearly $1.5 billion.

Changes in Royalty Distribution

Aguirre explained the shift in royalty distribution from 55% mechanical to 45% performance in 2024 to 53% performance and 47% mechanical in 2025. This change is attributed solely to the bundling strategies implemented by Spotify and Amazon. She expressed concern over the implications for mechanical royalties, which are administered by the Mechanical Licensing Collective (MLC) without taking a commission. Aguirre affirmed the NMPA’s commitment to addressing these issues at the Copyright Royalty Board.

AI Music Licensing Developments

During the meeting, David Israelite, NMPA’s President and CEO, announced significant licensing deals with AI music companies Udio and KLAY. This marks the first industry-wide licensing agreement with a major AI music entity, which aims to ensure equal valuation of songs and sound recordings for AI training purposes.

For further details on these AI licensing agreements, refer to the original reporting source.

Recognition of Industry Leaders

The NMPA honored several songwriters and executives for their contributions to the music industry. P!nk received the 2026 NMPA Songwriter Icon award and performed acoustic renditions of her songs during the ceremony. She expressed gratitude to her fans, stating that their support inspires her songwriting.

Julian Bunetta was awarded the NMPA’s Non-Performing Songwriter Icon award. He acknowledged the importance of his support system, attributing his success to his family, collaborators, and mentors.

Harvey Mason Jr., CEO of the Recording Academy, received the NMPA’s Industry Legacy Award for his efforts to elevate songwriters. He highlighted the collaborative spirit that drives his work and emphasized the Academy’s initiatives to recognize songwriters.

The event also featured a surprise tribute to Mason Jr. with a performance by Jordin Sparks, showcasing one of his notable co-writes.

Keynote on AI and Music

Dina Powell McCormick, President and Vice Chair of Meta, participated in a keynote conversation, discussing the role of AI and music within Meta’s ecosystem. She emphasized how technology enhances user experiences and the potential for wearable technology to transform music listening.

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Published on 2026-06-11 01:57:00 • By FAME Delivered News Desk