Prominent players in the copyright licensing market are capitalizing on the growing adoption of digital marketing and the rising number of over-the-top (OTT) platforms, which are creating a greater necessity for licensing content.
ROCKVILLE, MD / ACCESSWIRE / September 9, 2020 / The copyright licensing market is projected to grow at a healthy CAGR of 5.3% in terms of value through the period of forecasting between 2020 and 2030. The growth of the market is majorly driven by surging demand for protecting the work of creators in the age of digitization where the credibility of the creator is at high risk. The outbreak of COVID-19, though, has posed a challenge to the steady growth of the market as the volume of content creation witnessed a steep decline.
"Owing to the growing reliance on the internet for marketing and distribution of content, both large- and small-scale organizations are facing challenges such as duplication and misuse of content. To mitigate the risk, creators are now actively licensing their content including images, software codes, music, writing, and architectural designs to name a few among a wide variety of content being produced" says the Fact.MR report.
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Copyright Licensing Market - Key Takeaways
- The global copyright licensing market is projected to surge past valuation of US$ 1.6 Bn by the end of 2030.
- By type, copyright licensing of literature work is estimated to hold 1/4th of revenue share through the forecast period as the number of published research papers and books continues to proliferate.
- On the basis of vertical, copyright licensing of animation is expected to rise at a CAGR of 6% and offer a revenue opportunity of US$ 161 Mn during the assessment period.
- Based on organizations, large scale enterprises will hold over 2/3rd of share in the global market value owing to higher expenditure on content marketing.
- North America will retain its dominance over the regional landscape owing to the presence of flourishing entertainment industry.
- South Asia is projected to emerge as a lucrative regional market backed by surging adoption of digital marketing strategies among organizations.
Copyright Licensing Market - Driving Factors
- The growing need to implement and execute guidelines across the entertainment sector is projected to act as a crucial growth attribute.
- The rising prominence of the World Intellectual Property Organization (WIPO) and the emergence of independent regulatory bodies in several countries will continue to fuel the need for copyright licensing.
- Growing awareness among architects and content creators regarding the adverse effects of the internet and plagiarism is asserting them to opt for copyright licensing which, in turn, is boosting the growth of the market.
Copyright Licensing Market - Constraints
- Longer waiting time to procure licensing is limiting the market growth to an extent.
Anticipated Market Impact by Coronavirus Outbreak
As a result of the COVID-19 outbreak, numerous services have come to an abrupt halt and copyright licensing is no different. Being highly reliant on content such as writing, photography, animation, and architectural designs, hindered content creation is adversely impacting the demand for copyright licensing. However, as researchers, writers, and large-scale organizations adapt to altered normality and focus on digital marketing, the subsequent need for licensing marketing content will alleviate the downtrend to an extent.
Explore the global copyright licensing market with 152 figures, 64 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4848/copyright-licensing-market
Competition Landscape
The key players operating in the copyright licensing market include, but not limited to, Phonographic Performance Ltd., Authors' Licensing and Collecting Society, NLA Media Access, Creative Commons, Motion Picture Licensing Corporation, Christian Copyright Licensing International.
More on the Report
The FACT.MR's market research report provides in-depth insights into the copyright licensing market. The market is scrutinized on the basis of type (literature works, films, music, artistic works, architectural designs and other), organization (Large Enterprises and Small and Medium Enterprises (SMEs)), and vertical (music and entertainment, architecture, animation, art & graphics, and others) across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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SOURCE: Fact.MR
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