Stock Music Market is estimated to be US$ 2.9 billion by 2032; Rise in Individual Content Creators to Fuel Market Growth

 

Music has become incredibly important as it elevates mood, helps in reducing stress, relieves symptoms of depression, and also helps in stimulating memories. Stock music is less expensive and has two types: royalty-free stock music, which is of lower costs and covers ongoing royalties and can be used on Facebook, YouTube videos, brand-sponsored content, and Instagram. 

The growing adoption of digital technologies with newly launched music platforms has contributed to market growth. High demand for smartphones and the internet has enabled stock music to reach a global market or audience by making it easier to access music for content creators from different cultural backgrounds and regions, which is expected to fruitful the demand for Stock Music Market growth. 

The report “Stock Music Market, By Type (Licensed Stock Music and Royalty-free Stock Music), By Application (Advertising, Gaming, Film Soundtracks, Television & Radio Broadcasts, and Others), By End-Users (Small & Medium Enterprises, Large Enterprises, and Individual Content Creators), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

 Key Highlights:


·       In November 2019, Shutterstock launched new unlimited monthly subscription for “Shutterstock Music” library containing 11,000 tracks of world-class music. This new launched plan is geared towards podcast producers, YouTubers, and social media managers and thus, offers cost-efficient solution for licensing unlimited high-quality tracks at $149 monthly.

Analyst View:

Growing demand for music to elevate mood and stimulate memories has become a significant factor in market growth. The rising adoption of technologies and growing music licensing platforms with easier access for various content creators have driven market growth. Various licensing opportunities and growing internet trend is anticipated to increase the demand for Stock Music market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Stock Music Market, By Type (Licensed Stock Music and Royalty-free Stock Music), By Application (Advertising, Gaming, Film Soundtracks, Television & Radio Broadcasts, and Others), By End-Users (Small & Medium Enterprises, Large Enterprises, and Individual Content Creators), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Stock Music Market accounted for US$ 1.3 billion in 2022 and is estimated to be US$ 2.9 billion by 2032 and is anticipated to register a CAGR of 8.8%. The Stock Music Market is segmented based on Type, Application, End-Users and Region.

 

·       Based on Type, Stock Music Market is segmented into Licensed Stock Music and Royalty-free Stock Music.

·       Based on Application, Stock Music Market is segmented into Advertising, Gaming, Film Soundtracks, Television & Radio Broadcasts, and Others.

·       Based on End-Users, Stock Music Market is segmented into Small & Medium Enterprises, Large Enterprises, and Individual Content Creators.

·       By Region, the Stock Music Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Stock Music Market:

The prominent players operating in the Stock Music Market includes, Epidemic Sound, Audio Network Limited, Shutterstock Inc., Envato Elements Pty Ltd., SoundCloud Ltd., The Music Bed LLC., Pond5 Inc., Music Vine Limited., Soundstripe Inc., Jamendo and Others.

To know more

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