Efficient music licensing platform for the rental market
Finding and obtaining proper licenses for music in the rental market can be a challenging and time-consuming process. A startup could develop an efficient online platform that streamlines the music licensing process for rental businesses, providing access to a wide range of licensed music tracks for various types of rentals. This would solve a common frustration for rental businesses and save them significant time and effort. Market size: The global music licensing market size was valued at $5.59 billion in 2019 and is expected to reach $14.56 billion by 2027, with a compound annual growth rate (CAGR) of 11.6%. With the increasing demand for rental services across various sectors, there is a significant market opportunity for such a startup.