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United States and Europe accounted for 32.25% and 29.28% respectively of the global background music market in 2017

Author: QYResearch  |   Published Date: 2018-03-07   |   Views: 90


A key trend contributing to market growth will be rise in demand for live events. The passion for music among the younger generation has contributed to the growing demand for live events. This has led to the formation of musical bands, artists, and disc jockeys (DJs). To keep the customers entertained and increase footfalls, hotels, restaurants, social gatherings, and shopping malls arrange for live music by artists and bands. This creates high enthusiasm and interest among individuals for attending such live performances and increases the number of customers present at the venues. Further, one of the challenges hampering market growth will be the availability of royalty-free background music. The licensing fee varies depending on the customer's use and selected tracks. Many free-to-use tracks available online just require the customer to credit the owner of the track. Royalty-free background music does not generate much revenue as most of the available tracks are free to use. This hinders the revenue growth of vendors, which offers background music on subscription as a small business would opt for royalty free music to paid music service.

 

Each of those leading companies in Background Music industry has its own mature sales networks. Through their authorized distributors or their partners, those Background Music companies keep keen on expanding their Background Music sales. To achieve better sales businesses, Background Music manufacturers usually invest on their marketing channel every year.


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