Fact.MR’s Report on Global Background Music Market

In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global background music market considering 2013-2017 as the historic year and 2018–2027 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.

The background music market study outlines the key regions – North America, Europe, APEJ and Latin America – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Brandtrack, Mood Media, Kasimu, Cloud Cover Music, Open Ear Music, Qsic Pty Ltd., Easy on Hold, Jukeboxy, Sunflower Music Company, NSM Music Ltd., Xenox Music Media, Soundtrack your Brand, SoundMachine, Heartbeats International, Express Melody, Almotech, Custom Channels, CSI Music Service, Almotech, TouchTunes, StorePlay, and USEN Holding Corporation Inc.

According to a recent study of Fact.MR, the background music market is estimated to reach approximately US$ 650 Mn in 2019, registering a Y-o-Y growth at 6.4%. Building unique identity and increasing the consumer footfall are key factors that have been driving the adoption of background music among brick & mortar stores in recent years. These stores are also putting efforts toward strengthening their relationship with consumers using audio branding.

Demand for background music is also driven by efforts of restaurants in combining the music with their brand theme, thereby offering a unique experience to consumers. Background music has become an integral part of bars, pubs, cafes, and restaurants, who continuously search for profitable and triumphant strategies to enhance consumer loyalty. These foodservice outlets consider appropriate use of background music to hold potential in increasing the consumers’ stay, which in turn has been linked to growth in the average money spent by consumers.

The background music market report addresses the below-mentioned queries:

Why are vendors shifting away from traditional methods of manufacturing background music market?
How does the global background music market looks like in the next five years?
Which end use industry is expected to surpass segment by the end of 2027?
What innovative products are being introduced by the players in the global background music market?
Which regions are showing the fastest market growth?

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On the basis of end use applications, the background music market study consists of

Retail Stores
Cafes & Restaurants
Leisure & Hospitality
Public Organization

Crucial insights in the background music market research:

Underlying macro- and microeconomic factors impacting the growth of the background music market.
Basic overview of the background music market, including market definition, classification, and applications.
Scrutinization of each background music market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of background music market across various industries.
Important regions and countries offering lucrative opportunities to background music market stakeholders.

Commercial retail stores, cafes, and restaurants are often found streaming music from their personal accounts which is illegal and can consequently result in a lawsuit being filed against them. Additionally, the price of commercial licenses for streaming music is higher than the streaming rights for personal accounts which benefits both music publishers and companies. Background music streaming services are offering businesses a solution to the problem and foraying into copyright and royalty collection management. For instance, Soundreef, a company founded in 2013 is solely based on managing copyright for music publishers.

Numerous studies focused on the impact of the use of background music in workplaces have associated it with enhanced creativity, productivity, and improved focus in employees. Awareness about the positive impact of music on employees is increasing which, in turn, is bolstering the demand for background music in corporate spaces.

Co-working spaces continue to remain at the forefront of the growing demand for background music in corporate spaces. A number of co-working spaces are marketing it as a facility integrated to boost the productivity of the employees. Furthermore, music streaming services are working towards developing music in line with corporate venue themes offering firms an array of choices. .With technology and music evolving the demand for background music in corporate spaces is estimated to bolster.

Reasons to choose Fact.MR:

Exhaustive research regarding the market to offer A to Z information.
Digital technologies to provide innovative business solutions to the clients.
24/7 availability of services.
Interaction with suppliers, vendors, and service providers for precise market landscape.
Reports tailored as per the requirements of the clients.

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