Background Music Market Plying for Significant Growth During to 2027

According to a recent study of Fact.MR, the background music market is estimated to reach approximately US$ 650 Mn in 2019, registering a Y-o-Y growth at 6.4%. Building unique identity and increasing the consumer footfall are key factors that have been driving the adoption of background music among brick & mortar stores in recent years. These stores are also putting efforts toward strengthening their relationship with consumers using audio branding.

Demand for background music is also driven by efforts of restaurants in combining the music with their brand theme, thereby offering a unique experience to consumers. Background music has become an integral part of bars, pubs, cafes, and restaurants, who continuously search for profitable and triumphant strategies to enhance consumer loyalty. These foodservice outlets consider appropriate use of background music to hold potential in increasing the consumers’ stay, which in turn has been linked to growth in the average money spent by consumers.

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A survey of Consumers Guild of America (CGA) has reported a 44% difference in the average earnings of pubs playing music and otherwise. Millennials remain the target consumer base for retail stores and restaurants, as the demographic shows a strong inclination towards visiting places that feature good music and distinct consumer experience.

The Fact.MR report opines investments being made in background music by restaurants and cafes are estimated to account for nearly one-third share of the market. The hospitality industry is working towards building a consumer experience along similar lines. A key development that complemented the popularity of background music in the industry is the presentation of Yamaha Commercial Audio entitled “Sound Investment: The Business of Background Music,” at the Restaurant Show in London in 2018.

Sales Remain Underpinned by Growing Adoption in Hospitality Industry

Background music plays a vital role in the hospitality industry, providing a medium to draw consumer attention. Online services are offering consumers the convenience to order food from the comfort of their homes, a trend which has caused a substantial reduction in the number of consumers visiting restaurants. To tackle the challenge, restaurants are offering comprehensive menus, in-house entertainment, superior services, and other value-added services to draw in customers with background music systems playing an integral part in adding value to the consumer experience. In addition to creating an immersive experience, fine-tuning playlists can potentially boost sales by influencing human behavior, with studies linking an increase in sales and consumptions of alcoholic drinks when subjecting consumers to uptempo background music. Further, playing slow background music is likely to increase the bill size by over 20% according to researches, with mellow music encouraging longer conversations and influencing consumers into buying additional products such as desserts and coffee, which have higher profit margins. Background music is increasingly being incorporated in hotels for creating greater ambience in line with their brand identity. For instance, Petit Palace Hotels plays different varieties of background music at different locations, to complement the décor of the areas. The staff at the hotel changes the music throughout the day to create ambiances that appeals to consumers.

Technological Advances Providing Better Access and Control over Music

The networking infrastructure has evolved in the last decade providing greater accessibility to internet services at affordable rates and have enabled the development of the cloud infrastructure providing simpler access to a plethora of playlists and songs. The innovations in technology are helping businesses to control the music through handheld devices and change it based on the number of customers, weather, and the overall mood. Machine learning algorithms further aids businesses in finding music that falls in line with their brand image hence saving them time. Other advanced technological features allow businesses to schedule playlists and manage the music being played at multiple locations through a single device enabling them to choose music based on their preference and atmosphere, thus giving them access to tailor the ambiance of the store according to their requirements. Such technological capabilities are likely to aid in bolstering background music market growth.

Ecommerce Proliferation – A Key Sales Impediment

Focus of brands on strengthening their logistics for punctual delivery of goods continue to complement growth of ecommerce worldwide. In addition, convenience and comfort of online shopping has resulted in declined sales prospects in brick & mortar stores. For instance, North America and Europe witnessed a significant surge in the e-commerce sales in the recent past, while the footfall at shopping malls and stores recorded a significant declining. This has been a key growth impediment for sales of background music globally, as brands opt to invest substantially in strengthening their online presence.

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About the Report

The report on background music market provides detailed and valuable insights into the background music market. Additionally, the report on background music market highlights and explains all the key factors that influence the growth of the background music market. Further, all the macro and microeconomic facets which have an impact on the background music market performance have been propounded in the report.

An opportunity assessment of the background music market along with a region-wise and segment-wise analysis has been provided. A competitive landscape assessment of the background music market has also been included in the report.