With the explosive growth of videos, podcasts, and other digital content across channels, the need for customized, licensing-compliant soundtrack music has been on the rise in parallel. But the old model of searching through online catalogs for the perfect song is frustrating and risky.
Why?
Time-consuming searches — Sorting through thousands of tracks to find one that fits is a creativity-blocking chore.
Lack of customization — Even after finding a good song, it likely still needs editing to sync perfectly.
Copyright issues — Licensing terms for different uses are complex, and violations happen all the time.
So, what’s the solution?
AI-powered music generation tools.
The world of background music is being disrupted by a new generation of AI-powered tools that make royalty-free track creation fast, easy, and affordable. Market-wise, there’s a massive wave of growth in this domain. The sector is projected to skyrocket from $294 million in 2023 to $2.66 billion by 2032, at an impressive CAGR of 28.6 percent.
Much of this expansion will come from individual creators first. But major B2B opportunities exist too. Integrating AI music tools into editing software via APIs can greatly accelerate workflows for studios and other enterprises.
Speaking of AI-based music generation, the space needs special mention of Beatoven.
Here, rather than searching through a catalog, you simply input the desired mood, genre, instruments, and length. Their generative AI model then instantly creates a track to specifications that you can incorporate directly into your project. And, there’s no risk of copyright complexities.
That’s one reason this startup has raced to 700,000 users since it started full-fledged in January 2023.
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