Market Share of Global Commercial Background Music Industry
The commercial background music market is fragmented in nature. Some major players in the market studied are Auracle Sound Ltd, Mood Media, and Cloud Cover Media Inc. Players in the market are adopting strategies such as partnerships, agreements, innovations, and acquisitions to enhance their service offerings and gain sustainable competitive advantage.
- May 2024: IMRO announced a partnership with Audoo, a music recognition technology company aiming to transform public performance royalty distribution. Audoo's innovative Audio Meter, endorsed by music icons like Sir Elton John and ABBA's Björn Ulvaeus, will undergo a trial run in various public venues in Ireland, including cafes, bars, restaurants, and retail outlets. This initiative is set to bolster IMRO's current reporting methods, ensuring a more precise and transparent breakdown of royalty distributions to music creators. The technology achieves this by identifying and relaying data on the background music played directly to IMRO.
Global Commercial Background Music Market Leaders
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Auracle Sound Ltd.
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Mood Media
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Cloud Cover Media, Inc
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NSM Music
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Sound Machine
*Disclaimer: Major Players sorted in no particular order
