Background Music Market to Develop Rapidly by 2027

Posted by Ajay Kumar on February 5th, 2020

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.

A survey of Consumers Guild of America (CGA) has reported a 44% difference in the average earnings of pubs playing music and otherwise. Millennials remain the target consumer base for retail stores and restaurants, as the demographic shows a strong inclination towards visiting places that feature good music and distinct consumer experience.

The Fact.MR report opines investments being made in background music by restaurants and cafes are estimated to account for nearly one-third share of the market. The hospitality industry is working towards building a consumer experience along similar lines. A key development that complemented the popularity of background music in the industry is the presentation of Yamaha Commercial Audio entitled “Sound Investment: The Business of Background Music,” at the Restaurant Show in London in 2018.

Copyright Management Presents a Lucrative Opportunity for Background Market Players

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.

Request Methodology of this Report- https://www.factmr.com/connectus/sample?flag=RM&rep_id=3068

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.

Ajay Kumar

About the Author

Ajay Kumar
Joined: January 13th, 2020
Articles Posted: 318

Classical Sheet Music
Join Music Scores.com for unlimited downloads of all our sheet music and MP3 files. The perfect classical sheet music resource whether you play alone or in a group or ensemble.
How to Read Music Notes for Beginners and Children
How your child can read music notes easily and quickly - with the help of a gang of cartoon characters with hilarious voices. Multimedia ebook with flash cards and games for follow-up practice.
How to Read Music Notes for the Adult Beginner
How you can read music notes - easily and quickly. Multimedia ebook with proven memory system to make learning music notes a breeze. Flash cards for practice wherever you are.
BTV Music Production Software
BTV Professional Music Production Software works as a standalone application or with your DAW as a VST or AU plugin (optional). If you are inspired, BTV will help you get your ideas out faster.
Music Promotion Machine
Get instant access to a Proven strategy for getting More Fans, More Exposure, and Selling your Music online. Simple step-by-step video training that anyone can follow!
Learn to Play the Violin or Fiddle
Music is too precious and too important to limit access to it! Our mission is to bring the joy of music to as many people as possible, regardless of location, vocation, background, culture, or ability.
Advertise Here