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Music sync market forecast Production libraries raise the pitch

Report by Kriss Thakrar and Tatiana Cirisano
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20,000 foot view:  Amid fragmenting fandom and the attention recession, sync is more important than ever as a tool for both revenue generation and marketing. There are also dozens of emerging use cases for sync, from creator content to fitness platforms and virtual spaces in the evolving metaverse. However, the music industry’s complex, and largely analogue, licensing frameworks risk obstructing this potential. As a result, major rights holders are competing with a strongly growing sector of next-gen production music companies, which also benefit from the growth of the creator sector, increased accessibility of tools for making high-quality music, and artists seeking revenue beyond streaming.

Key insights 

  • Despite a            in growth during the pandemic            global sync revenue is set            generate            billion in annual revenue            2030, more than doubling annual            from 2020 
  • While the            market will bounce back from            pandemic over the next several            growth will level off slightly,            an increase in volume of            is offset by a decrease            price
  • Most of            sync revenues come from advertising            by TV            film            games            and                      
  • The growth            content creation opens a new            for micro-licensing, as one-fifth of            consumers now create content in            form — but the content            segment is underserved by traditional            models
  • Music licensing            non-DSP streaming is on track            generate the music industry nearly            annually by 2030 — a            on 2021
  • Music discovery            shifting towards UGC: while            of            consumers say TV shows, movies            games are among the main            they discover new music,            say            about TikTok,            about YouTube, and            social media overall
  • Next-generation production            libraries are well-placed to support            emerging opportunities of micro-licensing and            streaming
  • Production library            growth is outpacing growth of            overall sync market, thanks to            such as the rise of            creators, improved production music quality,            seeking post-DSP income, and the            independent sector
  • For sync            to take advantage of the            expanding use cases for sync,            processes must become much more            and turnkey

Companies and brands mentioned in this report: Adobe, Artlist, BeatStars, Bopper, Canva, Dua Lipa, Epidemic Sound, Euphoria, Facebook, Freshsound, Getty, Glass Animals, Instagram, LANDR, Lickd, Lightricks, Lofi Records, Meta, Monstercat, Myspace, Netflix, Peloton, Pretzel, Snapchat, Sony Music Group, Sony Music Publishing, SoundCloud, Splice, SyncFloor, Thematic, TikTok, Track Club, Twitch, Universal Music Group, Universal Production Music, Warner Chappell, YouTube