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THE STOCK MUSIC MARKET TO REACH $2 BILLION BY 2028 - ARIZTON
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TRENDS AND SUCCESS FACTORS IN THE STOCK MUSIC MARKET:
Datamining:
Platforms such as YouTube, Facebook, Shazam, and Spotify have digital footprints that are increasingly being analyzed to help businesses learn about the demographics of music listeners. This can inform brands what, where, and when stock music and genres work to impact and increase revenues.
Technological Advances
Technology has advanced and is giving sound engineers mediums to create an experience where the story revolves around the audience. The Dolby Atmos sound system, for instance, has enabled sound designers to typically 'heighten' experiences by creating a 3D audio atmosphere that can realistically depict objects moving around the audience in a cinematic setting.
Emerging sound technologies such as 3D atmosphere are rendering the creation of new listening experiences. Stock music companies that pay close attention to the type of music/sound effects that will maximize the experience using the technology expected to create demand.
Rise of Independent Content Creators
A good count of creators is earning significant income from their channels, pages, and profiles, acting as influencers or content creators, all translating to high demand for paid stock music used largely as background music or with sound effects. Currently, demand is being spurred by royalty-free and licensed music owing to the growth in independent content creation. However, stock music market vendors have also responded and designed their products and services around the trend of independent content creation, further fueling their uptake in the industry. For instance, AudioJungle introduced new licensing terms, away from the one-size-fits-all concept that allows audio files to be used in the different ways content creators would use them.
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Several vendors in this market have a global presence, creating strong brand images for their products. Also, several small and large vendors are altering the stock music business with new approaches and models, such as subscription-only. These all-you-can-eat subscriptions are meant to drive volume and, consequently, revenue growth. While some players offer only royalty-free stock music, others offer royalty-free music and custom services. However, many players do not operate in a specific niche. In the future, growth in the stock music market can mostly come from specialization. Focusing on certain pockets of the market, such as video game sound effects or curation of in-store stock music over and above, offering a huge database of music and sound effects can help brands acquire a unique position in the market.
Key Company Profiles
Envato
Entertainment One
Getty Images
Musicbed
Shutterstock
Other Prominent Vendors
Tribe of Noise
Media Music Now
SoundCloud
123RF
Artlist
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
Segmentation by Product
Track
Sound Effect
Segmentation by End-User
Large Businesses
SMEs
Individual Content Creators
Segmentation by License
Licensed Music
Royalty-Free
Segmentation by Geography
North America
The US
Canada
APAC
China
Japan
India
South Korea
Australia
Indonesia
Philippines
Taiwan
Europe
The UK
Germany
France
Italy
Russia
Spain
Sweden
Switzerland
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
UAE
South Africa
Saudi Arabia
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