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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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Klook launches K.ai, an AI agent that manages merchants’ back-office operations

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K.ai goes beyond answering questions to executing inventory, pricing, and booking-related tasks in Klook’s merchant portal

SINGAPORE and HONG KONG, Nov. 3, 2026 /PRNewswire/ — Klook, a leading global platform for experiences, launches K.ai, an AI agent that helps experiences merchants manage their businesses by executing everyday tasks in Klook’s merchant portal.

Unlike conventional AI assistants that only answer questions or provide recommendations, K.ai can retrieve business information and act on merchants’ instructions, from checking bookings and availability to updating inventory and pricing. This reduces the need for merchants to navigate multiple menus and complete routine tasks manually.

K.ai is now being introduced to Klook’s merchants through a phased global rollout, ahead of the year-end travel season.

Bringing SMEs from offline to AI-powered operations

Experiences remain one of travel’s least digitized categories. According to Euromonitor, only about 34% of experiences bookings are made online, compared with 66% for accommodations and 81% for flights.

A key reason is fragmentation: small and medium-sized (SME) operators make up around 95% of the sector, and many lack the digital reach to sell beyond walk-ins and offline channels. The result is a large, fragmented supply base that travelers still struggle to find, compare and book online.

By bringing these merchants online, Klook makes them discoverable and bookable to travelers worldwide, and by embedding AI into Klook’s existing tech infrastructure, it helps them leapfrog from manual processes to AI-powered business management.

“Many experiences merchants don’t have dedicated teams to manage technology or back-office operations. With K.ai, we’re bringing the most practical and valuable agentic AI capabilities into their day-to-day operations, removing much of the manual work involved in running their businesses, so they can spend more time on what they do best: delivering meaningful experiences for travelers,” says Bernie Xiong, Co-founder and CTO of Klook.

From answering questions to getting work done

For SME merchants, managing bookings, inventory and pricing is essential but time-consuming. While most AI business assistants only answer questions, K.ai goes further — it answers questions and takes action.

A merchant can ask, “What did my bookings look like last week?” and receive a report. The merchant can then instruct K.ai to “Raise the weekend price by 10%” and have the change applied in the merchant portal.

Early results from merchants using K.ai demonstrate operational improvements. Tasks that required multiple steps can now be completed 95% faster for individual inventory and pricing updates, and 97% faster for batch checks of products, inventory and orders.

Beyond efficiency, merchants using K.ai recorded 3.4 times as many monthly bookings of those not using the agent. With the ability to adjust operational details in seconds, merchants are better equipped to respond to changing demand and capture booking opportunities.

“I used to block out an hour every morning to update prices and availability across my tours,” says Erica Yu, Co-founder of MyProGuide in Taiwan. “The difference is tangible. Now I tell K.ai what I want, and it’s done before my coffee is. I’m catching last-minute demand that I used to miss, and I finally have more time to work on the tours themselves.”

From back-office operations to business growth

Beyond supporting day-to-day merchant portal operations and queries, K.ai also simplifies other time-consuming aspects of running an experiences business.

With one-click product listing, merchants can upload existing materials and have K.ai generate structured product listings, pre-filling fields for merchants to review and edit instead of building listings from scratch.

K.ai also helps merchants make more informed business decisions by turning customer reviews and performance data into actionable insights.

Through the Reviews and Dashboard pages, K.ai highlights changes in business performance, identifies potential reasons behind them and surfaces opportunities for improvement. This helps merchants better understand customer needs, improve service quality and refine their offerings, shifting their focus from routine administration to growing their businesses.

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SOURCE Klook

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izmo Microsystems Successfully Develops and Qualifies Indigenous Pitch Detector for Defence Avionics

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Achievement demonstrates integrated electronics design, advanced semiconductor packaging and military grade manufacturing capabilities.

BENGALURU, India, Nov. 3, 2026 /PRNewswire/ — izmo Limited (NSE: IZMO) (BSE: 532341) today announced that its semiconductor subsidiary, izmo Microsystems Pvt. Ltd., has successfully developed and completed defence qualification of an indigenous Pitch Detector – a critical avionics component that senses aircraft pitch attitude and provides correction data to the gyromagnetic compass navigation system. The component is used across multiple military aircraft and helicopter platforms currently in active service.

The original foreign origin Pitch Detector faced irregular and limited supply from its overseas manufacturer, creating operational challenges for platforms dependent on it. izmo Microsystems undertook a complete indigenization program to develop a fully compatible Indian replacement, reducing dependence on imported components and strengthening domestic supply chain resilience.

izmo Microsystems successfully reengineered the original component without access to its design documentation, redesigned the electronics using modern technology, and manufactured a fully compatible replacement in India. The component was developed and manufactured at the Company’s DSIR recognised advanced semiconductor packaging facility in Bangalore, and successfully qualified to military reliability standard MIL-PRF-38534.

The achievement demonstrates izmo Microsystems’ ability to undertake complete product development programs, from design and engineering through manufacturing and qualification. These integrated capabilities position the Company to address a wider range of defence and aerospace indigenization opportunities, particularly where imported components are obsolete, difficult to procure or no longer supported by their original manufacturers.

The development also reflects the growing maturity of izmo Microsystems’ technology platform, which combines advanced electronics design with high reliability semiconductor packaging and manufacturing. These capabilities support the Company’s activities across defence, aerospace, silicon photonics and other advanced semiconductor applications.

India’s defence budget for FY2026–27 stands at ₹7.85 lakh crore, including ₹2.19 lakh crore for capital expenditure, reflecting the Government’s continued commitment to defence modernization and self reliance. With increasing emphasis on indigenous procurement and import substitution, izmo Microsystems sees growing opportunities to apply its engineering and manufacturing capabilities across the defence electronics sector.

About izmo Microsystems Pvt. Ltd.

izmo Microsystems Pvt. Ltd. is the advanced semiconductor packaging subsidiary of NSE/BSE listed izmo Limited. Based in Bengaluru, the Company operates a state-of-the-art facility providing integrated design, packaging and manufacturing services across silicon photonics, RF and microwave electronics, 3D System-in-Package integration, hermetic packaging and high reliability defence electronics.

For more information, visit  www.izmomicro.com / www.izmoltd.com or contact:   

Media Contact

izmomicro Communications

Email: info@izmomicro.com 

Investor Contact  

izmo Limited

No. 177/2C, Bilekahalli Industrial Area, Bannerghatta Road, Bangalore 560076

CIN: L72200KA1995PLC018734

Email ID: investors@izmoltd.com

Caution Concerning Forward- Looking Statements: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. 

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Auden Techno Corp. Recognized at Asia Pacific Enterprise Awards 2026 Taiwan Chapter for Strong Corporate Governance and Ethical Practices

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TAIPEI, Nov. 3, 2026 /PRNewswire/ — Auden Techno Corp., a Taiwan-based connectivity solutions provider established in 1981, has been recognized with the Corporate Integrity and Governance Excellence (CIGE) Award at the Asia Pacific Enterprise Awards (APEA) 2026 Taiwan, organized by Enterprise Asia. The recognition highlights the company’s continued commitment to integrity, responsible governance, and effective risk management as it advances connectivity solutions worldwide.

Led by Chairman and General Manager Daniel Chang, Auden Techno Corp. operates five business divisions covering Wireless Communications, Instrument Equipment Sales, Sustainability, mmWave, and Advanced R&D. Guided by its principles of “Integrity and Innovation”, the company places the Board of Directors at the center of its governance framework. In 2025, the Board convened eight meetings with a 97% attendance rate, while ESG oversight covering governance, information security, environmental protection, and social engagement was delegated to the Sustainable Development Committee. An independent Internal Audit Office reports quarterly to the Board and supports risk management across strategy, finance, compliance, and climate change.

Auden Techno Corp. has also embedded integrity into its organizational practices. All directors and senior executives have signed Integrity Management Declarations, while annual anti-corruption training is provided to all employees. An independent whistleblowing channel protects reporting parties, with zero violations recorded in 2025. Since 2025, ESG performance has also been linked to executive compensation with a 30% weighting.

The company’s governance framework is supported by measurable performance. It recorded zero information security incidents in 2025 and has maintained zero environmental violations, corruption incidents, and discrimination complaints for years. Its Corporate Governance Evaluation score of 91.30 placed it in the top tier for two consecutive years, demonstrating how integrity and governance have been integrated into its business operations.

These sustained efforts reflect Auden Techno Corp.’s commitment to embedding integrity, accountability, and responsible governance across its operations. Its consistent approach to ethical business practices and effective oversight demonstrates the strong governance foundation behind its recognition at the APEA 2026.

The APEA 2026 Taiwan is supported by the Taiwan Institute for Sustainable Energy (TAISE), with KPMG Taiwan as the Official Assurance Partner. PR Newswire serves as the Official News Release Distribution Partner while Commercial Times and Dailywire.asia serve as the Media Partners.

About Enterprise Asia

Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplifting the economic status of people across Asia and ensuring a legacy of hope, innovation, and courage for future generations. Please visit https://www.enterpriseasia.org/ for more information.

About Asia Pacific Enterprise Awards

Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/ regions and markets all over Asia. For further information, please visit https://apea.asia/taiwan/. 

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SOURCE Enterprise Asia

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