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Stock Music Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2031)

08-21-2024 09:48 AM CET | Arts & Culture

Press release from: Report Prime

Stock Music Market Size & Share Analysis - Growth Trends &

Market Overview and Report Coverage

Stock music refers to pre-existing audio tracks that can be licensed for use in various media projects, such as films, advertisements, video games, and online content. This accessible and cost-effective solution allows creators to enhance their projects with high-quality music without incurring the expense of custom compositions. Typically, stock music is offered through online libraries where users can browse tracks by genre, mood, or instrumentation and purchase licenses for their intended use.

The current outlook for the stock music market is promising, driven by the exponential growth of digital content creation across platforms like social media, YouTube, and podcasts. As more individuals and businesses seek to produce professional-grade media, the demand for readily available music tracks continues to rise. Furthermore, advancements in technology and easier access to distribution platforms are fueling market expansion. The Stock Music Market is expected to grow at a CAGR of 12.50% during the forecasted period, reflecting the increasing integration of sound in various sectors. With more creators recognizing the value of stock music, the industry is set to thrive, making it an essential component of the evolving media landscape.

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Market Segmentation 2024 to 2031

The Stock Music Market Analysis by types is segmented into:

• Royalty free (RF)
• Rights managed (RM)

The stock music market is primarily divided into two types: Royalty Free (RF) and Rights Managed (RM). RF music allows users to pay a one-time fee to use the track without further royalties, making it ideal for projects with budget constraints. Conversely, RM music requires a specific licensing agreement for each use, with fees based on factors such as the project's scope and audience size. This type offers exclusive rights, often appealing for high-profile productions needing unique soundtracks.

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The Stock Music Market Industry Research by Application is segmented into:

• Editorial
• Commercial

The stock music market serves two primary applications: editorial and commercial. Editorial music is used in media projects like documentaries, news segments, and online content, where licensing fees are often lower and focus on enhancing storytelling. In contrast, commercial music applies to advertising, corporate videos, and promotional materials, aiming to attract attention and drive sales. Both markets provide pre-produced tracks, allowing creators to acquire high-quality music affordably while ensuring proper licensing for various usage contexts.

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In terms of Region, the Stock Music Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


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What are the Emerging Trends in the Global Stock Music market?

The Stock Music market is rapidly evolving, driven by several key trends:

- **AI-Generated Music**: Advances in artificial intelligence are enabling the creation of custom tracks quickly and at lower costs, catering to diverse needs of content creators.

- **Subscription Models**: Services offering unlimited access for a monthly fee are gaining popularity, providing cost-effective solutions for businesses and influencers.

- **Personalization**: Consumers increasingly seek tailored music options for their content, leading platforms to offer customization features based on user preferences.

- **Diverse Genres and Styles**: The demand for varied musical styles is rising, reflecting diverse content spaces, from social media to corporate videos.

- **Increased Licensing Awareness**: As content creation rises, so does the understanding of the importance of proper licensing, driving demand for legitimate stock music sources.

Overall, the Stock Music market is projected to grow significantly, fueled by these trends, as content creators seek innovative and accessible music solutions.

Stock Music Market Competitive Analysis

The competitive stock music market is characterized by several key players, including Audio Network, Getty Images, Pond5, Shutterstock, and The Music Bed. These companies provide a diverse array of music licensing solutions for various media applications.

**Audio Network** was founded in 2001 and has established itself as a leading provider of high-quality music for content creators. With an extensive library of original music spanning multiple genres, Audio Network has grown rapidly, capitalizing on the increasing demand for licensed music due to the rise of digital content production. The company fosters partnerships with independent composers and offers a subscription-based service, which has contributed significantly to its revenue growth.

**Getty Images**, initially known for stock photography, expanded into music licensing. Through its acquisition of other companies and strategic partnerships, Getty Images has leveraged its existing customer base to diversify into music. With a comprehensive collection that combines images, video, and music, it serves clients in advertising and media sectors, supporting its substantial market presence.

**Pond5**, founded in 2006, presents an extensive library of stock media, including music. It differentiates itself through a marketplace approach, allowing creators to sell their music directly to buyers, thus fostering a community of artists. Market growth has been driven by the increasing need for unique media content as more businesses embrace video marketing.

**Shutterstock**, primarily known for stock photos, ventured into music licensing to complement its offerings. Its growth has been fueled by strategic acquisitions and a global presence.

While specific sales revenue figures for each company can vary year-on-year, Shutterstock reported approximately $700 million in revenue for 2022, showcasing substantial market penetration. Overall, the competitive stock music market continues to thrive, bolstered by increased digital content creation and distribution.

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