Brooklyn, NY — (SBWIRE) — 09/27/2017 — The growth of the market has been observed to showcase a continuous rise since decades. The year-on-year growth of the streaming revenue has been anticipated to gain a strong boost with the increase in the number of paid streaming subscribers. Until now, millions of users have been paying for streaming subscriptions. For recorded music, the income generated by digital means could account a substantial share in the coming years.
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As per the analysis of the report, the world music and video market has been prognosticated to be segregated into commercial and household according to application and megaphone, microphones, and audio according to type. Geographically, the market could see a classification into Southeast Asia, India, China, Japan, the European Union, and the U.S. The regional analysis of the market could prove to be extremely beneficial for players to examine how their regional assets could expand in future.
Countries such as India and China have been expected to provide a good momentum to the development of music markets with a heavy growth in streaming. This growth in revenue could be further fueled by record labels making hefty and constant investments. These investments could not only be directed toward various systems that support digital platforms but also artists. As a result, millions of tracks have received a license across several services. Although revenues had dropped considerably in the past, both the music and video industries have been operating for attaining a sustainable growth.
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One of the ways to achieve success in the world music and video market could be to resolve market distortion. Also called as ‘value gap,’ market distortion is the rising incongruity between the value extracted from music by user-uploaded services such as YouTube and the income paid back to the creators and investors of the music. Contributions made by various music companies since years have been foreseen to be a key for creating a dynamic and robust environment for growth in the music market. Long-term investments and innovation in music could uplift the market to great heights in future.
While the potential for music is endless, more needs to be done to reward creativity and protect the value of music. This could also mean the same for the music market to continue to develop and evolve and maintain investments in artists. It has been observed that the whole of the music industry is joining hands as a joint effort to fight for a legislative solution for fixing the value gap while policymakers have been called upon for their help. Seasoned analysts have been of the opinion that for the music industry to flourish in the digital domain, it has become necessary to have a fair digital marketplace.
According to the report, some of the significant players that could make a mark in the worldwide music and video market include Toshiba, Sony, Samsung, Panasonic, and LG.
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