The stock music marketsize is estimated to grow by USD 650.4 million from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period.
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Region Outlook
— North America
— Europe
— Asia
— Rest of World
1.North America-North America is estimated to contribute38%. To the growth of the global market.The Stock Music Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
The North American stock music market is more established compared to other regional markets. The increasing popularity of digital music services, such as streaming and downloading, is driving growth in this market. Strict copyright laws in place contribute significantly to its expansion. The US dominates this market due to the presence of numerous music publishers and streaming service providers, along with a high consumer spending capacity. According to The World Bank Group, the US has a substantial Gross Domestic Product (GDP) per capita of USD76,329.
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Segmentation Overview
— License Model
— 1.1 Royalty-free
— 1.2 Rights managed
— End-user
— 2.1 Television
— 2.2 Film
— 2.3 Radio
— 2.4 Advertising
— 2.5 Others
— Geography
— 3.1 North America
— 3.2 Europe
— 3.3 APAC
— 3.4 South America
— 3.5 Middle East and Africa
— CountryUS, UK, China, Japan, and France
1.1 Fastest growing segment:
Royalty-free (RF) music refers to the permission to use copyrighted materials without paying recurring royalties or license fees. RF music allows for one-time payment, regardless of usage frequency, number of copies sold, or timeframe. Traditionally, RF music was popular for TV productions due to its ease of use and elimination of complex licensing processes. With the rise of digital distribution, RF music adoption, benefiting both composers and buyers. Numerous websites offer a vast selection of RF music across various genres, making it a convenient choice for producers. RF music's affordability fuels the growth of the global stock music market, as it offers legal access to a wide range of musical content without the need for copyright infringement.
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Research Analysis
The Stock Music Market is a dynamic and evolving industry that caters to the diverse audio needs of various sectors, from Millennials to corporations. Technology and social media have revolutionized the way we consume and create music, making music libraries an essential resource for content creators in the entertainment business. From TV and films to advertisements, video games, and corporate production, the demand for authentic and high-quality music is at an all-time high. The gig economy has given rise to a new generation of multimedia artists, providing them with an opportunity to monetize their creations through stock music platforms. Genres and styles vary widely, catering to the unique needs of different industries and audiences. The user base of streaming services and digital advertising continues to grow, making online marketing and podcasting increasingly important channels for reaching consumers. The Stock Music Market is a thriving business that is here to stay.
Market Overview
The Stock Music Market is a dynamic and evolving industry that caters to the growing demand for authentic and high-quality music in various sectors. With millennials leading the charge, technology and social media have revolutionized the way music is consumed and shared. Music libraries have become essential resources for content creators in TV, films, advertisements, video games, corporate production, and the entertainment business. Stock music producers offer licenses, attribution, and exploitable rights to market participants, enabling a diverse range of businesses to access original music for their brand assets. Affluent consumers, cultural change agents, touring musicians, and local musicians all contribute to this vibrant ecosystem. Brands like Coca-Cola and Budweiser have embraced music as a powerful branding tool, creating iconic brand anthems and sponsoring music festivals. The digital element has transformed the industry, with streaming services, podcasting, and online marketing leading the charge. Editing tools and platforms have made it easier for professionals to integrate music into their multimedia content, from magazines and newspapers to instore activations and digital efforts. The market continues to grow, fueled by media spending and the unified approach to platform integration.
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Key Topics Covered:
1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation7 Customer Landscape8Geographic Landscape9 Drivers, Challenges, and Trends10VenodrLandscape11VendorAnalysis12Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:media@technavio.comWebsite:www.technavio.com/
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SOURCE Technavio
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