Background Music Market In-depth Analysis and Industrial Insights until 2027
Verfasser: ashwani_kailiya on Tuesday, 21 January 2020The Fact.MR report tracks the background music market for the period 2018-2027. According to the report, the background music market is projected to grow at 7% CAGR through 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.