stock music market is expected to post a CAGR of more than 7%
over the period 2018-2022, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global stock music market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the simple licensing
and pricing of stock music. The demand for premium, high quality music
is increasing as professionals such as brand managers and publishers are
focusing on obtaining RF stock music that is unique, culturally
relevant, and provides fresh perspectives. To meet this demand, the
existing vendors are expanding their premium portfolios and new vendors
are entering the market.
This market research report on the
global stock music market provides an analysis of the most important
trends expected to impact the market outlook during the forecast period.
Technavio classifies an emerging trend as a major factor that has the
potential to significantly impact the market and contribute to its
growth or decline.
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In this report, Technavio highlights the increase in demand for
different types of background music as one of the key emerging trends in
the global stock music market:
Global stock music market: Increase in demand
for different types of background music
The demand for different types of background music that are used in
television programs, corporate video making, movies, on-hold production,
and websites is increasing. Royalty Free (RF) music can be used in
YouTube. YouTube is the main video-streaming service provider on the
Internet. Users can use licensed RF music for video production. The
availability of numerous tracks will enable customers to find their new
“Corporate customers can use stock music to make corporate video
presentations. RF music is used in background scores in their
presentations, which may be used for marketing activities. The use of
appropriate music is essential as it can set the mood and impact
audience behavior. Stock music can also be used in the backdrop of a
website to promote products and activities,” says a senior market
research analyst at Technavio.
Global stock music market: Segmentation analysis
This market research report segments the global stock music market by
license models (royalty free and rights managed) and by geographical
regions (APAC, EMEA, and the Americas).
The Americas led the market with the largest share in 2017, accounting
for more than 55% of the market followed by EMEA and APAC. The market
share of the three regions will witness small variation over the
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005899/en/