As a trusted solution in other industries, Alternative Legal Service Providers (ALSPs) are a relatively new development in the music business.
What Is an ALSP?
The Rise of the ALSP: Bringing Innovation to Music Business Affairs
The ALSP sector, now valued at $20.6 billion, has experienced substantial growth with a 20% compounded annual growth rate (CAGR) from 2019 to 2021, according to the 2023 Alternative Legal Services Providers Report*. This is notably higher than the 15% CAGR of the preceding two years (2018 and 2019), and is clear evidence of the acceleration in adoption of these services.
* Published by the Thomson Reuters Institute, the Center on Ethics and the Legal Profession at Georgetown Law, and the Saïd Business School at the University of Oxford.
From Zero to 100k: The Daily Sound Surge
Since 2008, daily music releases on Spotify have skyrocketed from 0 to 100,000.
As the Music Industry Booms, so Does the Pile of Paperwork
With record-breaking output comes a surge in legal and business affairs demands. Don’t let mountains of paperwork slow you down.
Understanding the Complexities
These challenges we’ve described are not limited to recorded music. Similar patterns can be seen across the entire industry, from publishing to live music, music rights in film and TV, and music technology businesses.
The Common Thread Across the Music Industry
But there’s a common theme - it’s the hard-working in-house legal and business affairs teams who can often feel like they’re swimming against the current.
How’s Your Legal and Business Affairs Team Keeping Up?
As the music industry continues its rapid growth, with increasing demands on legal and business affairs teams, it’s worth asking - How have the resources available to this part of your organisation kept pace?
Current Solutions: Shortcomings and Challenges
Despite the recurring challenges faced by in-house legal teams, previous solutions have been diverse and come with their own limitations.
How Can an ALSP Work for You?
A significant and growing number of highly successful music businesses are discovering that there is a better solution. Find out more about how our ALSP services can enhance your legal and business affairs output.