The stock music market refers to the licensing of pre-recorded music known as stock music. Stock music are generic tracks that are available for licensing or purchase for use in various media such as movies, advertisements, television programs, and video games. It allows customers to obtain copyright permission to use pieces of music in their media products against a one-time fee, instead of hiring a composer to create an original score. This allows content creators to access high-quality music at an affordable cost. Stock music comes in various styles and genres including jazz, rock, classical, and ambient for customers to choose from based on their needs. Major advantages of using Stock Music Market include time-efficiency as it can be instantly searched and licensed digitally, broader selection of options compared to hiring a composer, and cost-effectiveness with fixed licensing fees. Growth of digital media and rise of online streaming has increased the demand for affordable, royalty-free background music for online videos, podcasts, websites, and other digital platforms.

The Global Stock Music Market is estimated to be valued at US$ 1515.32 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Stock Music Market are Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, and Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated. The key players are focusing on expanding their product portfolio and global footprint to gain market share.

The demand for stock music tracks is growing significantly owing to the growth of online streaming platforms and digital content. Applications of stock music have increased in web series, podcasts, YouTube videos, and digital advertisements. Licensing of tracks through online digital platforms has created new monetization opportunities for rights owners and independent artists.

Major stock music providers are expanding their global operations through partnerships and acquisitions. In 2021, Audio Network partnered with 7digital to expand their catalog in Europe and Asia Pacific. Shutterstock acquired the music division of Turkish company Diskord in 2021. Increased globalization of digital media is driving industry players to have a stronger international presence.

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