DUBLIN--(BUSINESS WIRE)--The "Stock Music Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global stock music market is expected to grow at a CAGR of about 9% during the forecast period.
The demand for subscription licenses of tracks, loops, and sound effects and lifetime licenses of theme tunes is expected to shape the demand in the stock music market. The growth of TV-style programming, and the growing popularity of sound design-first approach are contributing to the growth of the stock music market size.
The demand for royalty-free and licensed music is spurred, and vendors are designing their products and services around the theme of independent content creation. There has also been an emergence of new platforms such as Tongal, which is a global community of creators that collaborate with studios, networks, and brands to develop video content for several platforms. Such communities are more likely to rely on stock music than commission its production, thereby taking stock music to major brands.
The growing need for audio-visual and interactive storytelling is emerging as a new opportunity in the North American stock music market. The APAC region is characterized by strong advertising spending. Rapidly changing media landscape is fueling growth. The growth of the European stock music market has picked up and is stimulated by attractive financing conditions and growing corporate profitability.
The market has entered the post-desktop banner phase, thereby driving up the usage of video and mobile, taking over TV advertising spending back in 2015. There is a high reliance on services that allow brands to leverage user-generated social content and develop personalized videos with brand messages integrated into them. Stock music has thus found new spaces for growth further amplified by the growth of programmatic video advertising.
- 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
- Stories Without Sounds
- Massive Profusion of Choice
- Generic Music Sweeps the Market
- Increasing Investment in Custom Music
- Simplifying Licensing
- Increasing Intuitiveness of Filters
- Growth of Platform Integrations
- Authenticity Comes to the Forefront
- Immersive Sound Design Gains Ground
Key Vendor Analysis
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.
- Audio Network
- Getty Images
Other Prominent Vendors
- Epidemic Sound
- Motion Array
- Music Vine
- The Music Case
For more information about this report visit https://www.researchandmarkets.com/r/h2o7kc