There has been much discussion regarding the future of music libraries in my other Predictions thread.
Reposting it here to give it its own thread for additional discussion:
I predicted Increased value in library music ownership for a handful in the future.
I foresee decreased value in library music composing for most down the road.
While I foresee a strong increase in the use of library music, there is already an exponentially growing glut of library music out there.
As the supply of high quality library music expands, I believe the completion for placement will drive down licensing fees (possibly reaching the point where free license, or even shared PRO revenue with the licensee, could become the norm.
In any case, having individual tracks licensed is NOTHING compared to actually owning the whole library.
This becomes even more the case as smaller libraries consolidate into larger ones which brings resale value to the library owners but typically dilutes the likelihood of any composer’s specific track being licensed as a needle within a much more vast haystack in a market that will ultimately be dominated by just a few key, and enormous, stacks of hay.
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