Latest News- Background Music Market: Music streaming is expected to lead the Product Type segment during 2025-2029

The Background Music Market is being driven by Demand for BGM in retail sector

The Background Music Market is expected to grow at a CAGR of 9.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 608 million. The music industry has experienced substantial revenue growth over the past three years, primarily driven by the surge in revenue from subscription-based streaming music channels. These channels encompass paid subscription services, streaming radio services, and ad-supported streaming services. In contrast to the traditional pay-per-track/album model, the high cost of music under this revenue structure deterred many consumers from making purchases, leading them to resort to piracy. However, the emergence of affordable music subscription services, typically priced between USD5.99 and USD9.99 per month, offers unlimited song streams, making music consumption more accessible and cost-effective for a broader audience. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Music streaming
  • AV system
• End-user
  • Hospitality
  • Retail
  • Commercial buildings
  • Public infrastructure
  • Others
• Genre
  • Ambient music
  • Upbeat and energetic
  • Classical or instrumental
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Demand for BGM in retail sector
• Growing use of BGM in public spaces
• Increased regulatory pressure to prevent music piracy and copyright infringement

However, the market also witnesses some limitations, which are as follows:

• Low margins for BGM companies
• Availability of royalty-free BGM
• Public opposition over piped music

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Market Scope in Background Music Market Research Report

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Research Analysis Overview

In the modern business landscape, the Background Music Market encompasses various sectors including Hospitality, Healthcare, Restaurants, Entertainment Venues, Retail, Recreation, and more. This market offers digital subscription-based music and digital broadcasts for customer engagement and enhancing ambience. Ambient music, a key component, contributes to business productivity, consumer relationships, and marketing aspects. Value-added options include recorded sound for commercials, films, marketing videos, and soft tunes for soothing shopping environments or improving sleep quality. TouchTunes and Beat Suite Music are prominent players in this market, catering to diverse industries like Hospitality, Healthcare, and Retail, where background music significantly influences consumer experience and business success.

Market Research Overview

The global movies and entertainment market encompasses businesses involved in various sectors such as advertising, publishing, movies and entertainment, interactive home entertainment, and interactive media and services. This market includes companies engaged in producing, distributing, and screening films and television shows, as well as those involved in the production and distribution of music, operation of entertainment theaters, and management of sports teams. Additionally, businesses offering online streaming of entertainment content are part of this market. According to Technavio, the market size is determined by the consolidated revenue generated by these entities in the provision of media, entertainment, and interactive media and services. The market caters to diverse industries including hospitality, healthcare, retail, corporate sector, and recreation. Companies providing background music solutions, such as TouchTunes, are integral players in this market, offering audio content for establishments like restaurants, entertainment venues, and retail spaces.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/