What is Music Business Software Market?
Music business software offers the access to the licensed music. It promotes the on brand environment for the customers as it is used for capturing the attention and rise in loyalty. The business music can be installed at the website, application or the event. Moreover, there are growing number of artists and musicians which is contributing towards the increasing number of films and music albums. These factors are fuelling the market of music business software.
Highlights from Music Business Software Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Artist Growth (United States), Reprtoir (France), Song space (United States), Song tracker (United States), Song Trust (United States), Synch tank (United Kingdom), Tempo (United States), Belitsoft (United States), YourTempo.com (United States) and Prism (India) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Music Business Software market throughout the forecasted period.
Artist Growth (United States), Reprtoir (France), Song space (United States), Song tracker (United States), Song Trust (United States), Synch tank (United Kingdom), Tempo (United States), Belitsoft (United States), YourTempo.com (United States) and Prism (India) are some of the key players profiled in the study. Music Business Software Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Editing, Mixing and Recording |
End Users | Professionals,Non-professionals |
On the basis of geography, the market of Music Business Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Usage of Artificial Intelligence for Music Production
Market Growth Drivers:
Rising number of live music events are increasing the demand of music business software. There has been increasing popularity of live events, concerts, electronic dance music festival and others. Also, these DJ music are being used in different places such as clubs, shopping malls and social gatherings which are fueling the market growth.
Challenges:
Issue Related to Piracy May Hamper the Market
Restraints:
High Initial Setup Costs may hamper the Market Growth
Opportunities:
Increasing Popularity among the Non-Professional Users
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
Market Leaders & Development Strategies
In October 2022, Los Angeles-based private equity firm Diversis Capital entered into a definitive agreement to acquire the remaining minority interest in Tempo Software, a leader in strategic road mapping, time and capacity planning, and portfolio management, from Origo. Diversis initially acquired a majority stake in Tempo from Origo in 2018.
In July 2019, digital supply chain and marketing firm FUGA acquired full ownership of Songspace, a Nashville-based rights management and creative workflow platform. Songspace's software integrates music publishing assets such as metadata, audio files, contracts, and artist contacts, and identifies gaps in these data, including certifications and lyrics.