Covina, Sept. 13, 2023 (GLOBE NEWSWIRE) -- What is Stock Music? How big it’s Stock Music?
Stock Music is referred to as library music, royalty-free music, or production music, which is specifically recorded to be licensed for use in videos. Stock Music is of two types: royalty-free and licensed stock music, which offers something contrasting and has its own characteristics.
Growing individual content creators has provided lucrative opportunities for market growth. Technological advancement with an emerging 3D atmosphere has created new listening experience, driving market growth. The presence of significant players and newly launched music subscription platforms is expected to increase the demand for Stock Music market growth.
According to the latest research study, the demand of “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%”
Recent Key Highlights in the Stock Music Market:
- In May 2022, Epidemic Sound together with iStock launched the new “iStock Music” which is powered by Epidemic Sound. The new launched “iStock Music” has allowed all small businesses across globe to customize and create compelling content which stands out and engage with customers more easily. iStock Music offers around 35,000 tracks with 90,000 high-quality sound effects for use.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | 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 |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
What is Prophecy’s Analyst View on Stock Music Market?
Wide variety of music composed by different artists in various tempos, moods, genres, and styles with classical orchestrations to animated carbon compositions offered by stock music libraries has provided lucrative opportunities in Stock Music market growth. Further, continuous technological advancement and newly launched music platforms are expected to boost the demand for Stock Music market growth.
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What are the emerging trends in the stock music industry, such as new music genres or styles that are in demand?
The stock music industry is experiencing a shift towards diverse music genres, including hybrid styles that blend different genres creatively. Epic cinematic scores and motivational tracks are in high demand for various media projects. Minimalist and ambient music offer subtle, mood-setting options. Customizable tracks, vocal hooks, and genre fusion provide versatility. There's also a focus on cultural diversity and inclusivity. Additionally, advancements in AI-generated music and evolving licensing models are reshaping the industry, while collaboration with independent artists is bringing fresh content to stock music libraries.
Who are the Lead players in the Stock Music Market?
- 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
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Explore More Insights:
- Background Music Market is estimated to be US$ 2.81 billion by 2030 with a CAGR of 6.10% during the forecast period
- Earphones and Headphones Market is estimated to be US$ 249.8 Billion 2029 with a CAGR of 26.0% during the forecast period
- Cloud Music Services Market is estimated to be US$ 77.6 billion by 2032 with a CAGR of 30.2% over the forecast period.
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