Background Music Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global background music market is anticipated to grow at a considerable CAGR of 6.3% during the forecast period (2022-2028). The rise in streaming services coupled with growing music subscriptions is anticipated to drive the growth of the market. For instance, as per Midia music streaming industry statistics (2021), global music subscribers increased to 523.9 million in the second quarter of 2021. According to IFPI music streaming services statistics 2021, global music listening time through subscription audio streaming increased to 51.0% in 2021. Further , according to the Recording Industry Association of America (RIAA), music streaming accounted for 84.0% of the US music industry revenue. The paid subscriptions accounted for 78.0%, whereas the ad-supported audio and video streaming accounted for 13.0% of the total revenue.

Looking toward the demand for background music, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in May 2019, Rehegoo Music Group had launched a new streaming service offering customized and curated playlists songs for business owners. The launch aimed to provide businesses with royalty-free background music, to avoid penalties for unlicensed music inside their venue which can range from $1000 to $1000,000. Further, the library consists of the songs of professional artists and the curated playlists vary with Profesional produced music by the label’s list of signed artists around the globe. Thus, such launches are anticipated to drive the demand for the global background music market.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Usen Corp., TouchTunes, NSM Music, and Auracle Sound among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Background Music Market Report by Segment

By Type

• Incidental Music
• Furniture Music
• Elevator Music
• Video Game and Blog Music
• Internet Delivered Background Music

By Application

• Retail Stores
• Restaurants
• Entertainment Places
• Public Organizations
• Others