Financial research concept

Index Data Provider Index Operating Revenue Growth

measures year-over-year growth in MSCI Index operating revenues across recurring subscriptions, asset-based fees, and non-recurring revenue.

By Lee BaileyPublished Oct 2, 2026

Research context

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Research date: Oct 2, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 10 connected conceptsPart of the reviewed Index & Data Provider Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Index revenue has multiple monetization streams
Asset-based fees are especially important
Part of the Index & Data Provider Economics
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Index data provider Index operating revenue growth measures year-over-year growth in MSCI's Index segment operating revenues.

MSCI reported 17.5% Index operating revenue growth in the second quarter of 2026, to $511.0M from $434.9M.

Index revenue has multiple monetization streams

MSCI's Index revenue includes recurring subscriptions, asset-based fees, and non-recurring revenue.

The quarter's growth was driven by both asset-based fees and recurring subscriptions.

Asset-based fees are especially important

MSCI said asset-based fee revenue increased 26.6%, while recurring subscription revenue increased 11.6%.

Read it with Index asset-based fee run-rate growth and Index recurring subscription run-rate growth.

Primary source: MSCI Q2 2026 Form 10-Q.

Part of the Index & Data Provider Economics

Connects MSCI Index revenue and Run Rate monetization with subscription sales and retention, plus Analytics, Sustainability & Climate, and Private Assets recurring growth.

Browse the full operating model in Company Analysis →

Where this concept fits

Index revenue and Run Rate monetizationCurrent relationship
Index operating revenue growth and total Run Rate growth combine recurring subscriptions and asset-based fees, while separate subscription and asset-based-fee Run Rates show how contract economics and linked-product AUM drive the segment.
Index Asset-Based Fee Run Rate GrowthIndex Revenue GrowthCurrent conceptIndex Subscription Run Rate Growth Index Run Rate Growth
Index subscription sales and retention
Net new recurring subscription sales capture annualized subscription additions net of cancellations, while retention measures the durability of beginning subscription Run Rate and explicitly excludes asset-based fees.
Index Net New Subscription Sales Growth Index Retention Rate
Adjacent recurring data platforms
Analytics, Sustainability and Climate, and Private Assets Run Rate growth show how MSCI's subscription-led businesses expand outside the Index asset-based-fee model, with Analytics operating revenue providing a recognized-revenue cross-check.
Analytics Revenue Growth Analytics Run Rate Growth Private Assets Run Rate Growth Sustainability & Climate Run Rate Growth

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

MSCIOpen operating-model research →10 of 10 reviewed concepts in Index & Data Provider EconomicsIndex revenue and Run Rate monetization4 of 4 bridge concepts supportedContinue through this bridge:Index Asset-Based Fee Run Rate Growth Index Run Rate Growth Index Subscription Run Rate Growth

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Compare Index operating revenue growth across subscriptions, asset-based fees, and non-recurring revenue.

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