The South Asia stock music market is experiencing significant growth, driven by the increasing demand for music in the film, television, advertising, and gaming industries. The rise of online streaming platforms and the increasing popularity of social media content creators have also contributed to the growth of the market. The market is highly competitive, with both established and emerging players offering a wide range of music genres and styles to cater to diverse audiences. Copyright laws and licensing agreements also play a critical role in the market dynamics. The COVID-19 pandemic has had both positive and negative impacts on the market, with increased demand for online content offsetting the disruption to live music events. Overall, the South Asia stock music market is expected to continue to grow, driven by the increasing demand for digital content and the growing popularity of music-based entertainment.
South Asia Stock Music Market was valued at US$ 32.2 Mn in 2020 and is expected to reach US$ 60.6 Mn by 2028 at a CAGR of 8.5% between 2021 and 2028.
Prominent Companies in the South Asia Stock Music Industry:
1. Audio Network Limited
Founded in 2001, Audio Network Limited is headquartered in London, UK, and operates in over 140 countries. It offers a vast library of original music, sound effects, and production music for use in various media productions. In December 2021, Audio Network announced its partnership with India's largest OTT platform, ZEE5, to provide the platform with its vast music library to enhance its content offering.
2. Envato Pty Ltd.
Envato Pty Ltd. was founded in 2006 and is headquartered in Melbourne, Australia. It operates in over 100 countries, offering a range of digital assets, including stock music. In June 2020, Envato launched its new subscription-based music service, "Envato Elements," which provides unlimited access to its music library for a monthly fee.
3. Epidemic Sound
Epidemic Sound was founded in 2009 and is headquartered in Stockholm, Sweden. It operates in over 150 countries and offers a vast library of music and sound effects for use in media productions. In October 2021, Epidemic Sound announced its expansion into the Indian market with the launch of a new office in Mumbai, India.
4. Pond5 Inc.
Founded in 2006, Pond5 Inc. is headquartered in New York, USA, and operates in over 150 countries. It offers a library of stock music, video footage, and other digital assets for use in media productions. In October 2021, Pond5 announced its acquisition of India-based stock footage platform, MotionElements, to expand its presence in the South Asian market.
5. The Music Bed LLC
The Music Bed LLC was founded in 2010 and is headquartered in Fort Worth, Texas, USA. It operates in over 140 countries, offering a range of music and sound effects for use in media productions. In January 2022, The Music Bed announced its partnership with India-based video production platform, InVideo, to provide access to its music library for InVideo users.
6. SoundCloud Ltd.
Founded in 2007, SoundCloud Ltd. is headquartered in Berlin, Germany, and operates in over 190 countries. It offers a platform for musicians and other content creators to upload, share, and distribute their music. In June 2021, SoundCloud announced its expansion into the Indian market with the launch of its first office in Mumbai, India.
7. Music Vine Limited
Music Vine Limited was founded in 2015 and is headquartered in Leeds, UK. It operates in over 140 countries, offering a library of high-quality, curated music for use in media productions. In October 2021, Music Vine announced its partnership with Indian music licensing platform, Muzik 247, to expand its presence in the South Asian market.
8. Storyblocks.com
Storyblocks.com was founded in 2010 and is headquartered in Arlington, Virginia, USA. It operates in over 150 countries, offering a range of digital assets, including stock music, for use in media productions. In December 2021, Storyblocks.com announced its partnership with Indian video production platform, Rocketium, to provide access to its music library for Rocketium users.
9. Soundsnap
Founded in 2007, Soundsnap is headquartered in New York, USA, and operates in over 200 countries. It offers a library of sound effects and stock music for use in media productions. There are no recent developments for Soundsnap in the field of South Asia stock music.
10. Soundstripe Inc.
Soundstripe Inc. was founded in 2016 and is headquartered in Nashville, Tennessee, USA. It operates in over 130 countries, offering a library of royalty-free music for use
*Definition- South Asia stock music refers to the licensing of pre-recorded music for use in various types of media projects in South Asian countries, including India, Pakistan, Bangladesh, Sri Lanka, and Nepal.
