The global stock music market size is expected to grow at a CAGR of about 9% during 2019 -2024.
The global media & entertainment market is also growing rapidly. Technology and the pervasive smartphone penetration have opened up alleys for the widespread adoption of video games. Further, video game production is entering a global distribution phase owing to the introduction of tax incentives, lower computing costs, and low regional labor costs. Consequently, there is expected to be a lot of knowledge sharing, improving the quality of video games through an increased focus on technology, game elements, sound design, and more on how it shapes a game’s experience. Sound effects are expected to be looked at from a more holistic perspective; as a result, increasing their relevance and subsequently their demand. Digital audio ad spending is also pushing the market forth.
Arizton’s recent market research report considers the present scenario of the global stock music market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the stock music market.
Stock Music Market – Dynamics
Here are the list of trends and drivers that are impacting the revenues and profitability in the stock music market:
- Rise of Independent Content Creators
- The Podcast Renaissance
- Audio-based User Experiences Gaining Traction
- Growing Popularity of Sound Design-first Approach
- Growth of TV Style Programming
- Simplifying Licensing
- Increasing Intuitiveness of Filters
- Growth of Platform Integrations
- Authenticity Comes to the Forefront
- Immersive Sound Design Gains Ground
Stock Music Market – Segmentation
The research report includes a detailed segmentation of the market by product, license, end-user, and geography.
- The music track segment is highly diversified. The age of personal creation is fueling the stock music market by tracks. As the market was once dominated by low-quality music and kept great musicians out of the game, emerging business models harmonize the quality and price.
- Several SMEs and individuals are finding the royalty-free model appealing and economical. The intensifying start-up culture in high-growth countries such as India is expected to boost the demand for royalty-free music. Further, key vendors are focusing on online affiliates and organic search, aimed at gaining speed and building authority in search listings by offering strong content, which is expected to drive the stock music market globally.
- The growth of online radio services has fueled small business advertising via audio channels since they offer reliability by allowing tracking and targeting. This is boding well for the growth of the SME stock music market. Further, SMEs are engaged more in new marketing practices than large firms; they are likely to explore innovative marketing strategies to push their products or services.
Market Segmentation by Products
- Tracks
- Sound Effects
Market Segmentation by License
- Royalty-free
- Licensed Music
Market Segmentation by End-user
- Large Business
- SMEs
- Individual Content Creators
Stock Music Market – Geography
While the value of stock music in developed economies has been affixed, stock music in developing and emerging economies is just about gaining importance in the marketing mix that is outside of traditional channels and movies. The advertising space in the North America region has grown exponentially due to the occurrence of cyclic events such as the Olympics and elections. Further, the growing need for audio-visual and interactive storytelling is emerging as a new opportunity in the North American market.
Market Segmentation by Geography
- North America
- US
- Canada
- APAC
- China
- Japan
- India
- South Korea
- Europe
- UK
- Germany
- France
- Italy
- ROW
- UAE
- South Africa
- Brazil
Stock Music Market – Vendor Landscape
The global stock music market is moderately consolidated. Single artist, community-based and mass players are the three types of agencies present in the global stock music market. There are a number of specialist agencies that are catapulting the industry forward just as they keep up with technology and demand developments.In addition, there are several small and large vendors that are altering the stock music business by new approaches and models such as subscription-only. Further, vendors will compete on quality, distribution capabilities, brand recognition and reputation, degree of localization, and customer service.
Key Vendors
- Audio Network
- Getty Images
- Shutterstock
- Musicbed
- Envato
Other prominent vendors are 123rf, Art-list, Audiosocket, Bensound, Dreamstime, FyrFly-SongFreedom, Jamendo, Motion Array, Music Vine, Videvo, Storyblocks, Soundsnap, Earmotion, Epidemic Sound, Pond5, MusicRevolution, Marmoset, Soundstripe, Neosounds, and The Music case.
Looking for more information? Click here
About Arizton Advisory & Intelligence
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-235-2040/+1 302 469 0707
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email: Send Email
Phone: +1 3122332770
Country: United States
Website: https://www.arizton.com/market-reports/stock-music-market-analysis-size-share-2024