Stock Music Market to Grow by USD 650.4 Million from 2024-2028, Rising Adoption of Subscription Model Boosts the Market, AI's Impact on Evolution - Technavio

NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global stock music market size is estimated to grow by USD 650.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising adoption of subscription model is driving market growth, with a trend towards expanding variety of stock music. However, lack of ownership of streamed music and issues associated with integration poses a challenge. Key market players include Audio Network, Pond5, Artlist, Shutterstock, Epidemic Sound, AudioJungle (Envato), Free Music Archive, Universal Production Music, 99Sounds, Marmoset, Getty Images, HookSound, Tribe of Noise, Media Music Now, SoundCloud, 123RF, Audiosocket, Bensound, Dreamstime, FyrFly, Jamendo, Motion Array, Music Vine, Videvo, Storyblocks, Soundsnap, Earmotion Audio Creation, MusicRevolution, Soundstripe, Neosounds, The Music Case, Entertainment One, and Musicbed.

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Market Driver

The Stock Music Market is experiencing significant trends driven by millennials, technology, and social media. Authenticity is key, with demand for original music and attribution increasing. Audio marketing through music libraries is on the rise for content creators in TV, films, advertisements, video games, corporate production, and entertainment business. Brands like Coca-Cola and Budweiser use stock music for brand anthems and advertising material. Localization and user base expansion are crucial, with market participants like PremiumBeat offering exploitable rights and licenses. The gig economy sees touring and local musicians contributing. Technology enables a unified approach through platform integration and localization. Affluent consumers seek cultural change agents and genres/styles reflecting globalization. Editing tools and platforms cater to professionals in this dynamic market. Media spending shifts towards digital efforts, including streaming services, podcasting, and online marketing. 

The stock music market experiences significant demand due to the extensive utilization of music in various multimedia applications. Stock music tracks are commonly employed as background music in TV shows, corporate videos, on-hold productions, and websites. RF (Royalty-Free) music is particularly popular on YouTube, a leading video streaming platform, where creators can legally use licensed RF music for their video content. Corporate clients utilize RF music for producing promotional videos and presentations, enhancing their marketing efforts by adding impactful background scores. 

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Market Challenges

• In today's business world, stock music markets face various challenges from millennials' preferences for authenticity, technology advancements, and social media dominance. Music libraries cater to content creators in diverse industries like TV, films, advertisements, video games, corporate production, and entertainment. Stock music producers must provide original music that resonates with affluent consumers and cultural change agents. Technology and social media have disrupted traditional markets, with streaming services and digital advertising becoming the norm. Premiumbeat, Coca-Cola, Budweiser, and other market participants seek brand assets and advertising material from stock music libraries. Localization and platform integration are crucial for reaching global audiences. Music festivals, touring musicians, and local musicians also contribute to the stock music market. Genres and styles vary, catering to the gig economy and diverse business needs. Editing tools and platforms enable professionals to create unified approaches for multimedia content, including magazines, newspapers, audiovisual content, and instore activations. Media spending shifts towards digital efforts, with radio and internet advertising evolving. The stock music market continues to adapt to these challenges, offering exploitable rights, licenses, and attribution to meet the needs of businesses worldwide.
• The digital music market, a significant segment of stock music publishing, is experiencing significant expansion due to the increasing popularity of digital music. Streaming services, which offer both free and paid options, have gained popularity thanks to their vast music libraries accessible via mobile apps. However, listeners do not own the music they stream, and an internet connection is necessary as not all providers offer offline access. Consequently, many consumers prefer downloading music instead. In the realm of stock music, platforms must integrate with various channels, including mobile apps and social media, to maximize reach.

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Segment Overview 

This stock music market report extensively covers market segmentation by

• License Model
• Royalty-free
• Rights Managed
• End-user
• Television
• Film
• Radio
• Advertising
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

1.1 Royalty-free- In the business world of stock music, royalty-free (RF) music has emerged as a preferred choice for organizations and individuals seeking legal and affordable music solutions. RF music grants the right to use copyrighted materials without paying ongoing royalty or license fees. This model offers convenience and cost savings as the fee is a one-time payment, independent of usage frequency or timeframe. Traditionally, RF music was popular in TV productions due to its ease of use and the complex licensing process for royalty-manned (RM) music. The digital era has seen in RF music adoption, with composers benefiting from online distribution and buyers appreciating the convenience of accessing a wide range of genres from various creators on numerous platforms. The affordability of RF music fuels the growth of the segment and the global stock music market as a whole. By providing legal access to music without the need for copyright infringement, RF music is a valuable tool for video and sound-based productions.

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Research Analysis

The Stock Music Market is a dynamic and evolving industry that caters to the diverse audio needs of various sectors. With millennials dominating the consumer landscape, technology and social media have become the driving forces behind its growth. Authenticity is a key trend, with content creators seeking unique and original music for their video content on streaming services, TV shows, films, advertisements, video games, and podcasts. The entertainment business, corporate production, and independent film industries are significant users of stock music. The gig economy has given rise to multimedia artists, providing a vast user base with a wide range of genres and styles to choose from. The Stock Music Market also serves digital advertising, online marketing, broadcasting, and various other business applications, making it an indispensable component of the modern media landscape.

Market Research Overview

The Stock Music Market is a dynamic and evolving industry that caters to the diverse needs of content creators, businesses, and media outlets in the digital age. Millennials, with their affinity for technology and social media, have driven the demand for authentic and engaging audio content. Music libraries have emerged as key players, providing a vast array of original music and sound effects for TV, films, advertisements, video games, corporate production, and entertainment business. Content creators, from touring musicians to local artists, now have the opportunity to monetize their work through stock music platforms. Premiumbeat, among others, offers licenses for exploitable rights, allowing market participants to use music for various purposes while ensuring attribution. Brands, from Coca-Cola to Budweiser, have embraced the power of music as brand assets, creating anthems that resonate with consumers. The market caters to various genres and styles, offering a unified approach to platform integration and localization. The advent of streaming services, digital advertising, podcasting, and broadcasting has further expanded the market's reach. Editing tools and platforms have made it easier for professionals to access and customize music to fit their projects. In the gig economy, stock music has become an essential component of multimedia content and audiovisual production. Globalization and the increasing media spending have fueled the growth of this vibrant and innovative industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• License Model
• Royalty-free
• Rights Managed
• End-user
• Television
• Film
• Radio
• Advertising
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio