Stock Music Market - Key Opportunities & Insights (2024-2032)

Stock Music Market Synopsis:

Stock Music Market Size Was Valued at USD 1.4 Billion in 2023, and is Projected to Reach USD 3.3 Billion by 2032, Growing at a CAGR of 9.7% From 2024-2032.

The stock music market is defined as the execution of musical works prerecorded for use in advertising, films, television programs, video games, websites, and other media materials. Such tunes are frequently available with professionals in this field, and can be purchased more economically than to employ actual music composers. It is aimed at users with different requirements: broadcast/television commercials, jingles, movies, corporate movies and commercials, private uses. Normally, stock music is available under licence types such as royalty free or rights managed which offers the user regular usage of the track with one payment and no further payments needed. Stock music industry on the other hand maintains steady growth around the world because of the increased production of digital contents in social media sites and numerous independent production companies.

It is important to note that, the stock music market has been growing year for year, and this growth is attributed by the fact that the market demand high quality, cheap and easy to purchase audio tracks for use in their content. The trending use of by now recognized social media platforms like the YouTube, TikTok, Instagram and others has made it easy for anyone or small companies to produce high quality videos. It has also created tremendous demand for background music and stock music libraries that offer different categories of music types such as classical, hip-hop, pop, jazz and cinematic music. Also, through AI, application based tagging and sorting of stock music has improved the search aspect to ensure appropriate track is selected by the customer.

On the same note, progress in streaming as well as cloud solutions have opened up possibilities to access limitless music libraries instrumentally to customers as well as organizations. A lot of these established players in the stock music business like Audio Network and Shutterstock Music are now finding different ways and means of coming up with new models of subscription and entering into new partnerships with companies that produce films and advertisements. The availability of these platforms around the world has continued to propel this market, and the Asia-Pacific, North America, Europe are seen as important regions. However, constant competition with other providers in the industry has made it compulsory to create higher price models, change the interface of the application, and improve the offered music tracks quality.

Stock Music Market Trend Analysis:

AI-Generated Stock Music

• One of the more striking erosion patterns in the stock music industry is the use of artificial intelligence for music production. Businesses are now using Artificial Intelligence in synthesizing music to meet user preferences in regard to tonality, rate and type of music. Some of the benefits of this technology include; Music providers can now create mass music at cheaper cost and in less time while at the same time being able to supply the market with very specific types of music. For instance, with regard to visuals, AI applications can identify the theme of a given video clip and, either recommend or generate the appropriate background music. Because of these developments, one can expect AI to improve the way that stock music operates by offering dynamic music scores that adjust themselves dependent on the amount or type of use in virtual reality and gaming.

Expanding Digital Content Ecosystem

• Thus, the constantly expanding pools of digital content are potentially a huge market for stock music. As Independents Filmmaking bubbles up, Podcasts, and more E-Learning, as the demand for high quality yet relatively cheap music streams hard and steady. Similarly, the growth of the online content streaming services such as Netflix, Amazon Prime Video and Disney+ that primarily offer background music and sound effects have given the demand for this specialisation a further boost. This is so because small-scale individuals have flocked to the creation of films and videos due to the cheap equipment and applications. Market players can take advantage of this opportunity through propositions such as increasing their libraries, providing specific subscription services, and creating concepts like artificial intelligence in search and client’s personalization.

Stock Music Market Segment Analysis:

Stock Music Market Segmented on The Basis of Product, License, End User, and Region.

By Product, Sound Effects segment is expected to dominate the market during the forecast period

• Depending on the adaptation, the global stock music market can be bifurcated into music tracks and sound effects; and, by size, the sound effects segment seems to be more promising throughout the forecast period. Sounds have a broad use in different fields of practice such as sound in video games, jingles in an advertisement, and use of sound in films among others making sound as an ingredient part of the audio narrative. Due to the necessity of having credible sound atmospheres in the soundscape, sound effects have gained pretty much importance in the horror, action ad fantasy films and other thrilling and dramatic genre whereby audio plays an essential role in producing the required powerful impression on the viewer.
• Furthermore, the increasing use of augmented reality (AR) and virtual reality (VR) has boosted the importance of good quality sound effects. Markets for specific sound implementations in games, and VR activities, are making the segment develop even further as developers are spending in novel audio segments. They are also providing large sound effects packages that fit various topics, including nature, city, and futuristic sounds and thus appeal to different companies.

By License, Royalty-Free segment expected to held the largest share

• It has also been found that the royalty free segment is expected to dominate the stock music market. One of the benefits of royalty-free licensing is that the user pays once and gets the perpetual license rights on its use, which is affordable. Such licensing approach has recently received a lot of attention from smaller scale content producers, indie filmmakers, and startups, who would like to use high-end audio for their content but are budget-constrained.
• The customer think royalty free music easy to access with simple licensing terms that make the product a preferred option. Some of the sites that have benefit from this trend include; Epidemic Sound and PremiumBeat, offering various non-copyrighted music pieces from various genres. As more and more services open up the subscription based model of revenue, the royalty free segment is anticipated to expand, aided by trends in digital distribution service as well as tags and metadata for better customer values.

Stock Music Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• As outlined in the business analysis, North America remained the largest market for stock music in 2023 generating an estimated 35 % market share due to the concentration of some of the leading music library firms and high demands for music content in the digital format. The dominance of the region is therefore explained by strong entertainment industry, especially Hollywood, which incorporates stock music into low-budget films and commercials. Also, there can be attributed the increasing popularity of independent creators and social media influencers in United States as well as Canada and such has helped expand the market also. The convenient technological foundation and the tendency to adopt new technologies, including AI and the cloud, has established North America as a leader of the stock music market around the globe.

Active Key Players in the Stock Music Market:

• 123RF (Malaysia)
• Adobe Stock (United States)
• Audio Network (United Kingdom)
• BMG Production Music (Germany)
• Epidemic Sound (Sweden)
• Envato (Australia)
• Getty Images Music (United States)
• Jamendo (Luxembourg)
• Musicbed (United States)
• Pond5 (United States)
• PremiumBeat (United States)
• Shutterstock Music (United States)
• Soundstripe (United States)
• Storyblocks (United States)
• West One Music Group (United Kingdom), and Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Stock Music Market by Product
 4.1 Stock Music Market Snapshot and Growth Engine
 4.2 Stock Music Market Overview
 4.3 Sound Effects
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Sound Effects: Geographic Segmentation Analysis
 4.4 Track
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Track: Geographic Segmentation Analysis

Chapter 5: Stock Music Market by License
 5.1 Stock Music Market Snapshot and Growth Engine
 5.2 Stock Music Market Overview
 5.3 Royalty-Free
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Royalty-Free: Geographic Segmentation Analysis
 5.4 Licensed Music
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Licensed Music: Geographic Segmentation Analysis

Chapter 6: Stock Music Market by End User
 6.1 Stock Music Market Snapshot and Growth Engine
 6.2 Stock Music Market Overview
 6.3 SME’s
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 SME’s: Geographic Segmentation Analysis
 6.4 Large Businesses
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Large Businesses: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Stock Music Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions  
 7.2 123RF (MALAYSIA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 ADOBE STOCK (UNITED STATES)
 7.4 AUDIO NETWORK (UNITED KINGDOM)
 7.5 BMG PRODUCTION MUSIC (GERMANY)
 7.6 EPIDEMIC SOUND (SWEDEN)
 7.7 ENVATO (AUSTRALIA)
 7.8 GETTY IMAGES MUSIC (UNITED STATES)
 7.9 JAMENDO (LUXEMBOURG)
 7.10 MUSICBED (UNITED STATES)
 7.11 POND5 (UNITED STATES)
 7.12 PREMIUMBEAT (UNITED STATES)
 7.13 SHUTTERSTOCK MUSIC (UNITED STATES)
 7.14 SOUNDSTRIPE (UNITED STATES)
 7.15 STORYBLOCKS (UNITED STATES)
 7.16 WEST ONE MUSIC GROUP (UNITED KINGDOM)
 7.17 OTHER ACTIVE PLAYERS

Chapter 8: Global Stock Music Market By Region
 8.1 Overview
 8.2. North America Stock Music Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product
  8.2.4.1 Sound Effects
  8.2.4.2 Track
  8.2.5 Historic and Forecasted Market Size By License
  8.2.5.1 Royalty-Free
  8.2.5.2 Licensed Music
  8.2.6 Historic and Forecasted Market Size By End User
  8.2.6.1 SME’s
  8.2.6.2 Large Businesses
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Stock Music Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product
  8.3.4.1 Sound Effects
  8.3.4.2 Track
  8.3.5 Historic and Forecasted Market Size By License
  8.3.5.1 Royalty-Free
  8.3.5.2 Licensed Music
  8.3.6 Historic and Forecasted Market Size By End User
  8.3.6.1 SME’s
  8.3.6.2 Large Businesses
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Russia
  8.3.7.2 Bulgaria
  8.3.7.3 The Czech Republic
  8.3.7.4 Hungary
  8.3.7.5 Poland
  8.3.7.6 Romania
  8.3.7.7 Rest of Eastern Europe
 8.4. Western Europe Stock Music Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product
  8.4.4.1 Sound Effects
  8.4.4.2 Track
  8.4.5 Historic and Forecasted Market Size By License
  8.4.5.1 Royalty-Free
  8.4.5.2 Licensed Music
  8.4.6 Historic and Forecasted Market Size By End User
  8.4.6.1 SME’s
  8.4.6.2 Large Businesses
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 The Netherlands
  8.4.7.5 Italy
  8.4.7.6 Spain
  8.4.7.7 Rest of Western Europe
 8.5. Asia Pacific Stock Music Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product
  8.5.4.1 Sound Effects
  8.5.4.2 Track
  8.5.5 Historic and Forecasted Market Size By License
  8.5.5.1 Royalty-Free
  8.5.5.2 Licensed Music
  8.5.6 Historic and Forecasted Market Size By End User
  8.5.6.1 SME’s
  8.5.6.2 Large Businesses
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Stock Music Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product
  8.6.4.1 Sound Effects
  8.6.4.2 Track
  8.6.5 Historic and Forecasted Market Size By License
  8.6.5.1 Royalty-Free
  8.6.5.2 Licensed Music
  8.6.6 Historic and Forecasted Market Size By End User
  8.6.6.1 SME’s
  8.6.6.2 Large Businesses
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkiye
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Stock Music Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product
  8.7.4.1 Sound Effects
  8.7.4.2 Track
  8.7.5 Historic and Forecasted Market Size By License
  8.7.5.1 Royalty-Free
  8.7.5.2 Licensed Music
  8.7.6 Historic and Forecasted Market Size By End User
  8.7.6.1 SME’s
  8.7.6.2 Large Businesses
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research