The global Stock Music Market is estimated to be valued at US$ 1315.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Stock music refers to royalty-free songs that can be licensed for use in audiovisual productions. Stock music provides wider music options for commercial use at affordable prices. It is used in films, television shows, advertisements, websites and other media.

Market key trends:-

Blockchain technology is emerging as key trend in the stock music industry. Blockchain allows the attribution and verification of ownership of digital creative works such as music files in real time. It ensures proper licensing, rights management, and transparency in royalty payments. Smart contracts enable automated tracking and payment of royalties. This is revolutionizing copyright management and payments process in the industry. Blockchain also helps identify unauthorized use of music works online through fingerprinting technology attached to distributed ledger. Several startups are leveraging blockchain to reshape digital content distribution and monetization.

Segment Analysis:-

The global stock music market is segmented by licensing model into royalty-free and rights managed. The royalty-free segment dominates the market and holds around 60% share. This is because royalty-free music licenses allow customers to use music across an unlimited number of projects with no recurring fees. The music remains copyright protected but customers are not required to disclose the title or composer.

Key Takeaways:-

The Global Stock Music Market Growth is expected to witness high, exhibiting CAGR of 10% over the forecast period, due to increasing demand for affordable music options from small businesses and content creators.

Regional analysis:-

North America dominates the global stock music market with a share of around 35%, followed by Europe and Asia Pacific. The US and Canada witness high demand due to presence of large number of content creators. In addition, India and China are fastest growing markets in Asia Pacific due to rapid growth of media and entertainment industries in these countries.

Key players:-

Key players operating in the stock music market are Audio Network Limited, Envato Elements Pty Ltd., Epidemic Sound, Pond5 Inc., Shutterstock, Inc., SoundCloud Ltd., Inmagine Lab Pte Ltd, The Music Bed LLC, Music Vine Limited, Storyblocks.com, Soundsnap, Soundstripe Inc., Bensound, Jamendo, and ProductionHUB, Inc. Audio Network, Epidemic Sound, and Pond5 are leaders in the industry due to their vast catalog of high quality music and affordable subscription plans for various users.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it