Global Stock Music Industry Outlook to 2026 - Immersive Sound Design Gains Ground Presenting Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Stock Music Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global stock music market by revenue is expected to grow at a CAGR of over 10% during 2020-2026.
The stock music market is observing a flurry of approaches. Platform integration is one such approach that is increasingly being witnessed across the market. It puts all the control in the hands of the creator, helping in reducing costs of having to source content from outside, and ridding users of the trouble resulting from coming to a grinding halt due to dependency and delays. Such moves create more opportunities to expand the distribution base while increasing the affinity in the market.
Platform integration is becoming an important tool that provides an intuitive search experience, facilitating easier and faster utilization of stock music through the integration of music libraries across applications. Simply by providing them in-program, users are saved from the added hassle of leaving their workspace, thereby enabling them to generate products through seamless utilization of their resources.
The following factors are likely to contribute to the growth of the stock music market during the forecast period:
- Simplification of License Models
- Increased Intuitiveness of Filters
- Growth of Platform Integrations
- Increased in Authenticity Demand
The study considers the stock music market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Stock Music Market Segmentation
The global stock music market research report provides a detailed segmentation by product type, license, end-user, geography. The growing demand for podcasts and the rise in the audio-based user experience are expected to boost the track-based stock music market growth. The market is expected to grow higher in North America and APAC with projected incremental revenue of over USD 348 million and USD 135 million respectively by 2026. As emerging business models harmonize quality and price, genuine composers are re-entering the field and raising the standard of the industry, thereby driving the demand for stock tracks.
Consistency, in terms of standards, has driven the demand for licensed music and is expected to continue over the next few years. High curation standards have led to the music that is largely cinematic and emotion-based as opposed to flat, thereby driving the market at a rapid pace. There is a shift in the focus from royalty-free to licensed music as the latter's quality, appeal, feel, and authenticity is objectively better than the former. Further, there has been some progress and innovation in the music licensing segment.
The growing demand for improving movie experience is expected to boost the market for large business stock music, which is likely to grow at a CAGR of over 10% between 2020 and 2026. There is a shift in the consumption preference of digital content from passive, video-based to audio-based content. This has resulted a change from "look and feel" to "listen and feel," which has fostered the use of audio branding where consumers can easily identify with the brand. Directional audio is becoming a trend driving the demand for sound effects as major retailers bank on audio to improve time spent in-store and drive preference over e-commerce.
Key Questions Answered
- What is the impact of the COVID-19 pandemic on the stock music market?
- What are some of the trends and drivers influencing the stock music market growth?
- What is the CAGR of the stock music market during the forecast period?
- Which segments are likely to generate the largest revenues during the forecast period?
- Who are the major players in the stock music industry?
Key Topics Covered:
Market Dynamics
Opportunities & Trends
- Simplifying Licensing
- Increasing Intuitiveness of Filters
- Growth of Platform Integrations
- Rising Need For Authenticity
- Immersive Sound Design Gains Ground
Growth Enablers
- Rise of Independent Content Creators
- The Podcast Renaissance
- Audio-Based User Experience Gaining Traction
- Growing Popularity of Sound Design-First Approach
- Growth of TV Style Programming
Restraints
- Stories Without Sound
- Massive Profusion of Choice
- Generic Music Sweeps Market
- Increasing Interest in Custom Music
Prominent Vendors
- Envato
- Entertainment One (eOne)
- Getty Images
- Musicbed
- Shutterstock
Other Prominent Vendors
- Tribe of Noise
- Media Music Now
- SoundCloud
- 123rf
- Art-list
- Audiosocket
- Bensound
- Dreamstime
- FyrFly
- Jamendo
- Motion Array
- Music Vine
- Videvo
- Storyblocks
- Soundsnap
- Earmotion Audio Creation
- Epidemic Sound
- Pond5
- MusicRevolution
- Marmoset
- Soundstripe
- Neosounds
- The Music Case
For more information about this report visit https://www.researchandmarkets.com/r/bz0dqe
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