Synchronization, revenue from recorded music usage in commercials, film, games and TV, achieved revenues of US$640.4 million and posted another year of growth of more than 20%. The segment accounted for 2.4% of the music industry in 2022.
For the eighth consecutive year, the global recorded music market has experienced growth. In 2022, the industry reported revenues of $26.2 billion, about 9% more than a year earlier. Information comes from the International Federation of the Phonographic Industry (IFPI) annual survey Global Music Report 2023.
Revenues, characterized by different sources, grew in all regions of the globe and marked the return of Brazil to the top 10. The country now occupies the ninth place in the ranking of the largest national recorded music markets, with an increase of 15, 4%.
Historically the largest region in the world music market, the United States and Canada, had a growth of 5% in 2022 and accounted for 41.6% of the industry. The United States has the largest domestic market in the world and has exceeded $10 billion for the first time.
Music on screens: the target paths of the cinema and video game market
Brazilian musician, composer, orchestrator, producer and guitarist who participated in the Canadian production of the short film Giraffe, which was awarded Best Picture at the Oregon Short Film Festival and the Vancouver Short Film Festival, Bruno Oliveira says that with the rise of streaming services Gradually, film production poles are also no longer concentrated only in the United States, but the country still holds a large market share. “Today we see very high quality products from countries like Spain, South Korea and even Brazil.”
“This also offers people from different cultures the opportunity to collaborate. The volume and diversity of productions has a huge demand for original music, so it’s a growing market,” adds Oliveira
In addition, the producer is responsible for the soundtrack of the short film ‘Circular Ruins’ (winner of Best Experimental Film at the Be Epic London International Film Festival and Best Film at the All Asian Film Festival) and the feature film ‘Chaotic Justice’. , (winner of Best Score at Fox International Film Festival and Best Action Film at Oniros Film Awards), original productions from China and Taiwan respectively.
Synchronization, revenue from the use of recorded music in commercials, cinema, games and TV also maintained strong highs according to the Global Music Report 2023, posting another year of growth of more than 20% and reaching 640.4 million of dollars. The segment is responsible for 2.4% of the music industry in 2022. “The soundtrack niche is one of the fastest growing in the music industry due to the increase in internet access, consumption of films, series and video games,” Oliveira points out.
Based on 2021 data, US investment bank Goldman Sachs produced the report music in the air, an estimate for 2022, which already indicated upward trends for the gaming niche. The document highlights that “new licensing revenues from short videos, connected fitness, games and podcasts have increased significantly in recent years and have already contributed 5% of global recorded music revenues in 2021”.
The report points out that video games increasingly involve complex stories with audio, visual and sensory components. “We believe game makers will need access to robust music libraries to achieve their artistic goals.” Detailed calculations from the new Revenue Streams study show that around 19% of emerging platform revenues in the music industry in 2021 came from games.
Market requests for professionals
Oliveira explains that the practice of compositing is totally linked to technology and professionals in this niche must have knowledge of video and video game construction. “A composer who wants to enter this segment must necessarily be familiar with music creation software and have a good understanding of production steps, practices and tools.”
“Making music for games is a little different from making music for linear media, like movies and commercials, in that it has to be produced and programmed to interact with player actions in real time,” Oliveira explains.
Recently, Bruno has also started collaborating with Andromeda Sound, a company specializing in audio production for video games with clients such as SEGA, Samsung and Nintendo.
According to the musician, most of the productions, mainly series, are produced almost entirely using software known as virtual instruments which significantly reduce production costs. “These are technologies that can reproduce the sounds of instruments in a realistic way, many times with a quality higher than some recordings made by real instruments and give the modern composer the freedom to experiment.”
Related to this, the presence of a mixture of elements is on the rise. Soundtracks considered hybrids are gaining more and more space, songs that mix orchestrations with electronic and ethnic elements. However, the sector presents some challenges such as competition and the difficulty of composers with these technical innovations, as Oliveira warns.
“Many musicians find it difficult to deal with technology because they are only used to the performative and artistic side of music. It is important to put the ego aside and do what works, not what we want. When creating for an audiovisual production, the music the material must serve”.
2022 was the seventh consecutive year of growth (6%) in U.S. recorded music revenue, posting a record US$15.9 billion according to the Music industry revenue report (Music Industry Revenue Report). The paper highlights that streaming remains the main driver of growth (7%), with record levels of engagement in paid subscriptions (10%), a continued increase in revenues from ad-supported formats and increasing contributions from new platforms and services .
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
