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Stock Music Market to Grow by USD 650.4 Million (2024-2028), Driven by Rising Subscription Model Adoption, with AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global stock music market size is estimated to grow by USD 650.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising adoption of subscription model is driving market growth, with a trend towards expanding variety of stock music. However, lack of ownership of streamed music and issues associated with integration poses a challenge.Key market players include Addictive Tracks Ltd., Adobe Inc., Artlist Ltd., Audio Network Ltd., Bensound, Envato Pty Ltd., Epidemic Sound AB, Filmstro Ltd., Footage Firm Inc., HookSounds, Marmoset LLC, Music Vine Ltd., MusicRevolution LLC, NEO Sounds Ltd., Pixabay GmbH, Shutterstock Inc., Smartsound LLC, SoundCloud Global Ltd. And Co. KG, The License lab LLC, and Trad Ventures LLC.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

License Model (Royalty-free and Rights managed), End-user (Television, Film, Radio, Advertising, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Addictive Tracks Ltd., Adobe Inc., Artlist Ltd., Audio Network Ltd., Bensound, Envato Pty Ltd., Epidemic Sound AB, Filmstro Ltd., Footage Firm Inc., HookSounds, Marmoset LLC, Music Vine Ltd., MusicRevolution LLC, NEO Sounds Ltd., Pixabay GmbH, Shutterstock Inc., Smartsound LLC, SoundCloud Global Ltd. And Co. KG, The License lab LLC, and Trad Ventures LLC

Key Market Trends Fueling Growth

The Stock Music Market is experiencing significant trends driven by millennials and technology. Social media and authenticity are key factors, with music libraries in high demand for content creators in TV, films, advertisements, video games, corporate production, and entertainment business. Brands like Coca-Cola and Budweiser use stock music for brand anthems and advertising material. Technology enables localization, reaching affluent consumers with original music and cultural change agents, from touring musicians to local musicians. Stock music producers offer licenses, attribution, and exploitable rights to market participants. Premiumbeat, Magazines, Newspapers, and streaming services are integral parts of this market. Editing tools and platforms cater to professionals in the gig economy, offering genres and styles for multimedia content, instore activations, and digital efforts. Globalization unifies approach and platform integration, with digital advertising, online marketing, podcasting, and broadcasting driving growth in the Prague-based industry. Media spending on radio, internet, TV, and stock content continues to rise, making it an exciting space for businesses and creators alike. 

The stock music market experiences significant demand due to its extensive usage as background music across various platforms. RF (Royalty-Free) music tracks are commonly employed in TV programs, corporate videos, on-hold productions, and websites. YouTube, a leading video streaming service, is a major consumer of RF music for user-generated content. Corporate clients utilize RF music for producing promotional videos and presentations, enhancing their marketing efforts by adding suitable background scores. 

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Market Challenges

In today’s business world, stock music market faces various challenges from millennials’ preferences, technology advancements, and social media trends. Authenticity is key as content creators in TV, films, advertisements, video games, corporate production, and entertainment businesses seek original music for their brand assets. Licenses, attribution, and exploitable rights are crucial for market participants like Premiumbeat, Coca-Cola, Budweiser, and others, who use music as branding material. Technology and social media have disrupted traditional music industries, with localization and user base expansion through streaming services and digital advertising. Cultural change agents like touring musicians and local musicians also impact the market. Platform integration, unified approach, and multimedia content creation are essential for businesses in the gig economy. Genres and styles continue to evolve, requiring editing tools and platforms for professionals. Globalization and media spending on radio, internet, TV, and streaming services further shape the stock music market.The digital music market, driven by the popularity of streaming services, is a significant sector in stock music publishing. Mobile apps, offering both free and paid subscriptions, dominate this market. With vast music libraries, these applications enable on-demand listening. However, the lack of ownership over downloaded music and the necessity for internet connectivity limit their appeal. Consequently, many consumers opt for downloading music instead. To effectively reach audiences, stock music platforms must integrate with mobile apps and social media.

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Segment Overview

This stock music market report extensively covers market segmentation by

License Model1.1 Royalty-free1.2 Rights managedEnd-user2.1 Television2.2 Film2.3 Radio2.4 Advertising2.5 OthersGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Royalty-free- Royalty-free (RF) music refers to the permission to use copyrighted materials without paying recurring royalties or license fees. RF music allows for one-time payment, regardless of usage frequency, number of copies sold, or timeframe. Traditionally, RF music was popular for TV productions due to its ease of use and elimination of complex licensing processes. With the rise of digital distribution, RF music adoption benefiting both composers and buyers. Numerous websites offer a vast selection of RF music across various genres, making it a convenient choice for producers. RF music’s affordability fuels the growth of the global stock music market, as it offers legal access to a wide range of musical content without the need for copyright infringement.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Stock Music Market is a dynamic and evolving industry that caters to the diverse audio needs of various sectors, from Millennials to corporations. Technology and social media have revolutionized the way we consume and create music, making music libraries an essential resource for content creators in the entertainment business. From TV and films to advertisements, video games, and corporate production, the demand for authentic and high-quality music is at an all-time high. The gig economy has given rise to a new generation of multimedia artists, providing them with an opportunity to monetize their creations through stock music platforms. Genres and styles vary widely, catering to the unique needs of different industries and audiences. The user base of streaming services and digital advertising continues to grow, making online marketing and podcasting increasingly important channels for reaching consumers. The Stock Music Market is a thriving business that is here to stay.

Market Research Overview

The Stock Music Market is a dynamic and evolving industry that caters to the growing demand for authentic and high-quality music in various sectors. With millennials leading the charge, technology and social media have revolutionized the way music is consumed and shared. Music libraries have become essential resources for content creators in TV, films, advertisements, video games, corporate production, and the entertainment business. Stock music producers offer licenses, attribution, and exploitable rights to market participants, enabling a diverse range of businesses to access original music for their brand assets. Affluent consumers, cultural change agents, touring musicians, and local musicians all contribute to this vibrant ecosystem. Brands like Coca-Cola and Budweiser have embraced music as a powerful branding tool, creating iconic brand anthems and sponsoring music festivals. The digital element has transformed the industry, with streaming services, podcasting, and online marketing leading the charge. Editing tools and platforms have made it easier for professionals to integrate music into their multimedia content, from magazines and newspapers to instore activations and digital efforts. The market continues to grow, fueled by media spending and the unified approach to platform integration.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

License ModelRoyalty-freeRights ManagedEnd-userTelevisionFilmRadioAdvertisingOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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/

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SOURCE Technavio

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Technology

Forging New Paths: Alfasigma Group and Fangzhou Inc. Chart a Course for Internet Healthcare

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SHANGHAI, Nov. 19, 2024 /PRNewswire/ — On November 13th, a high-level delegation from the Alfasigma Group, led by Mr. Andriy Samoylovych, Chief Commercial Officer of Global Growth Markets, and Ms. Zhou Qin, General Manager of Alfasigma China, met with Dr. Xie Fangmin, Chairman and CEO of Fangzhou Inc. (“Fangzhou” or the “Company”) (06086.HK), at the Company’s offices in Shanghai. The two companies discussed current trends in China’s Internet healthcare sector, along with potential areas for future collaboration.

Embracing Digital Evolution

The emergence of the Internet and digital technology has expanded the possibilities for Internet healthcare in China. Increasing numbers of patients are looking online for medical services that bring greater convenience and an improved customer experience. “The evolution of Internet hospitals in China is a gradual process that relies not only on technological advancements, but also fundamentally on developing patients’ acceptance of new healthcare delivery models,” elaborated Dr. Xie.

By leveraging an innovative hybrid model which combines initial offline consultations with online follow-ups, Fangzhou has boosted patients’ acceptance and trust in its Internet Hospital services. This model has facilitated more convenient communication between doctors and patients, fostering deeper relationships and engagement, which are crucial to improving patients’ treatment adherence.

Strategic Collaboration to Enhance Healthcare Delivery

Mr. Andriy Samoylovych engaged in a comprehensive discussion with the Fangzhou team, addressing topics such as expanding patient access to innovative drugs, the current landscape of Internet healthcare in China, and the insights gained from Internet based doctor/patient education.

For many years, Fangzhou and Alfasigma Group have engaged in extensive collaboration across multiple therapeutic areas, including cardiovascular health, vascular surgery, nephrology, endocrinology, hepatology, infectious diseases, gastroenterology, and reproductive health. The meeting highlighted the latest achievements of both organizations while outlining directions for future partnership. Fangzhou and Alfasigma Group are eager to work together to drive innovation and enhance the delivery of Internet healthcare.

About Fangzhou Inc.

Fangzhou Inc. (06086.HK) is China’s leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com.

About Alfasigma

Alfasigma is an international pharmaceutical company founded in Italy, and operating in over 100 countries worldwide (through direct branches, affiliates and subsidiaries). With more than 75 years of history, Alfasigma has a long track record in the research, development, production and distribution of innovative therapeutic indications. Its product portfolio spans specialty care, primary care and consumer care in five main areas: Gastroenterology, in which it is a leader, Vascular, Rheumatology, Metabolic, Nutraceuticals & Medical foods.

Media Contact
For further inquiries or interviews, please reach out to:
Xingwei Zhao Associate Director of Public Relations Email: pr@jianke.com

Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements

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SOURCE Fangzhou Inc.

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Zupe Announces Wellness Social Network for iOS

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Built for users that value healthspan and featuring artificial intelligence, Zupe offers verified expert content, innovative ways to get trusted advice, and a convenient marketplace featuring a global selection of wellbeing brands.

HONG KONG, Nov. 20, 2024 /PRNewswire/ — Zupe announced the upcoming launch of its wellness super-app. Zupe is a discovery platform—restoring trust in online advice and recommendations—that connects users with verified experts and curated products. Designed for health-forward consumers who are more in touch than ever in knowing what they want, Zupe helps them find what they need and what’s good for them.

Initially launching for iOS, the user-friendly interface intelligently integrates technology to offer a holistic digital ecosystem for health and wellness that prioritises trust and transparency. Users can share ideas, ask questions, contact experts, watch product reviews, and shop for wellness products across a number of categories spanning health, fitness, nutrition, appearance, sleep, sexual wellness, and mindfulness.

Research by the company and market data demonstrates a rising distrust of social media, particularly information and products promoted by content creators. A recent focus group commissioned in early October 2024 by Zupe indicated that 7 in 8 participants between the ages of 24-35 had negative views on obtaining ‘health information by using mainstream social media’.

The Community Feed provides users with a fast and intuitive way to access content from others, engage in discussions, and ask—and answer—questions. Experts, thoughtfully verified by Zupe, can access a dedicated suite of features. This includes options to speak to experts via instant messaging, voice calls, and video conferencing, as well as the ability to recommend products from the Zupe Marketplace to earn a commission. Diversity of thought is encouraged, and real, honest views are essential, reflected in the platform’s core features built around expert opinions and reviews. Zupe’s in-app AI also offers impartial, fact-based insights into expert content.

The Zupe Marketplace carries hundreds of wellbeing products curated from brands across the world. Users can find leading supplements and futuristic devices through to superfoods and sexual wellness products.

Qualified experts users can trust

At a time when almost anyone online can claim to be an expert—often to sell a course or consultation—Zupe combats health washing and misinformation by verifying each individual providing advice on the app. The company uses a two-stage process: candidates are interviewed by Zupe, and their qualifications and social media presence are checked for compliance with expert standards. They are then screened by a third-party background check provider to verify their documentation. Once verified, experts gain access to various dedicated features, including monetisation options and a “Verified Expert” badge.

The platform welcomes a variety of experts, from conventional specialists to alternative practitioners, supported by evidence-based methods and recognised qualifications. Currently, doctors, nurses, and other medically regulated professions are not eligible to be experts on the app due to regulatory rules. Zupe also requires individuals to meet additional standards, such as having a minimum number of years of experience, to be considered an expert.

Experts are encouraged to engage in open, honest and constructive discussion. Zupe’s community standards require experts to support their claims with research or they risk having their content removed.

Chat to experts and ask questions

Expert features—a result of thoughtful software integration—offer users innovative ways to receive paid advice. Users can contact experts via instant messaging, voice calls, or video conferences. Fractional pricing allows users to pay by the minute for most features, enabling short answers and quick advice without significant costs. Users can also contact experts directly for more personalised and extensive advice. The “Ask” function lets anyone pose and answer questions, fostering open discussions with expert responses clearly marked by their “Verified Expert” badge.

A global marketplace of leading wellbeing products

The Zupe Marketplace with its unique shopping experience eliminates frustration over finding the right products for a user’s health goals through the platform’s educational content and intuitive tools.

Today’s consumers no longer trust influencers and see through traditional marketing. Zupe builds trust by allowing real users and verified experts to test, try, and review products on the Marketplace in exchange for honest feedback—empowering them to express their opinions, both positive and negative. This radical honesty fosters trust and helps users make informed purchasing decisions, with reviews discussing product benefits, limitations, and value for money. Recognising the prevalence of sponsored content, Zupe’s approach challenges current practices: brands cannot incentivise experts or users, and moderation ensures compliance with Zupe’s community standards.

The Marketplace brings together hundreds of products from leading global brands including Pure Encapsulations, Researched Nutritionals, and LELO. Zupe takes care of everything—from driving product awareness and seeding products to experts to generating honest content that drives sales and providing business performance insights to brands.

Zupe AI

Zupe AI takes getting accurate health information to a new level by providing objective insights alongside expert content. Coming later, Zupe AI will be able to complement expert features and take action across the app, like asking users questions about their health concerns and then making appropriate product recommendations. Artificial intelligence and generative AI empower users with Zupe’s Retrieval Augmented Generation (RAG) engine, leveraging the latest research and knowledge. Content is enriched with data from Zupe’s proprietary technology to deliver objective, quick, and simple facts. Zupe AI is multimodal, providing intelligent feedback on textual, visual, and audio content. For instance, the Zupe AI can offer a neutral opinion on a post about a nutritional supplement–based on current research. The Zupe AI model is currently available in the Community Feed and in English. 

Get early access

Download Zupe on iOS here.

About Zupe

Zupe is revolutionsing the way consumers pursue optimal health and wellness—with its app for iOS, and, soon, Android and web versions. The Hong Kong-headquartered company is dedicated to innovating the online health experience with plans to enter major global markets.

References:

1 Zhang, Y., Wang, Y., Yongsatianchot, N., Gaggiano, J. D., Suhaimi, N. M., Okrah, A., Kim, M., Griffin, J., & Parker, A. G. (2024). Profiling the dynamics of trust & distrust in social media: A survey study.

Press Contact
tatum@zupe.life 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/zupe-announces-wellness-social-network-for-ios-302310774.html

SOURCE Zupe Group Limited

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Flexport Appoints Daniel Sanvicente as Senior Vice President, Head of APAC

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SAN FRANCISCO, Nov. 19, 2024 /PRNewswire/ — Flexport, a global leader in supply chain technology, announced today the appointment of Daniel Sanvicente as Senior Vice President, Head of APAC, effective December 2, 2024. Sanvicente will bring more than 25 years of leadership experience and deep expertise in the Asian Pacific region to Flexport, where he will focus on driving growth and strengthening the company’s regional presence.

“Today, more than ever, the Asia Pacific region is a critical hub for global supply chains. Daniel’s deep knowledge of the region and track record of building exceptional teams to help organizations scale effectively will be invaluable as Flexport continues to invest in and expand its presence in the Asia Pacific region,” said Ryan Petersen, Founder & CEO, Flexport.

Sanvicente’s track record in the global logistics industry helped drive growth and operational excellence at some of the world’s largest logistics players. Most recently, he served as Chief Commercial Officer for Asia Pacific at Hellmann Worldwide Logistics, where he built and led a team responsible for some of the organization’s biggest growth drivers. Prior to that, he led commercial strategy for Panalpina Greater China before taking on a leadership role focused on driving sales growth across the APAC region from Singapore. After Panalpina was acquired by DSV in 2019, Sanvicente established and led a newly combined commercial organization spanning 15 countries. He began his career at DB Schenker, where he developed strategic commercial and operational roadmap to scale teams in markets such as Miami, New York, Singapore, and Hong Kong.

“I am excited to embark on my new journey with Flexport. What drew me to Flexport is its vision of leveraging cutting-edge technology to power global trade, which I believe has enormous growth potential. I look forward to working with the world-class teams at Flexport to deliver exceptional value for our customers and to grow our presence across the Asia Pacific region,” said Sanvicente.

Flexport has seen significant growth in APAC in recent years. The company is the seventh largest freight forwarder in the Transpacific Eastbound trade lane and services an extensive global network of ocean freight routes. Flexport has also strengthened its air freight capabilities by operating dedicated freighters that connect key APAC gateways with the U.S. to meet rising demand. In addition to growing its presence in strategic markets such as Greater China and Korea — which have been central to its growth in cross-border e-commerce and other sectors —  Flexport recently announced a partnership with ITL Corporation in Vietnam to further accelerate its expansion in Southeast Asia.

About Flexport
We believe that global trade can move humanity forward. That’s why it’s our mission to make global commerce so easy there will be more of it. Flexport powers your supply chain from factory floor to customer door – making it easy for you to ship anywhere, sell everywhere, and grow faster. Companies of all sizes—from emerging brands to Fortune 500s—used Flexport technology and services to move nearly $33 billion of merchandise across 112 countries in 2023.

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SOURCE Flexport, Inc.

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