Copyright refers to a type of protection extended over intellectual property and licensing is basically a measure of risk control used for regulation of copyright loss exposure. As such, the copyright owner or the licensor is able to grant permission in the form of a licensing agreement as to enable use of copyrighted material. This accord specifies the exact material that can be utilized, purposes for which the material can be utilized and total duration of the license. A copyright or the various aspects of a copyright might be transformed or assigned from one person or party to another thereby generating a “license to use” again. The growth of the global copyright licensing market is estimated to observe growth in the rising number of literacy in developed and developing world over the period of analysis, from 2020 to 2030.
With the evolution and development of technology and colossal amount of information is disseminated every now and then, large-scale creativity, be it music or literature, is dependent on specialized utilities for licensing and management. The digital environment is paving way for hassle-free execution of copyright licensing through various means, which is likely to bolster expansion of the global copyright licensing market in the years to come. Digital platforms is assisting quick identification and location of licensees and licensors thereby offering virtual platforms for automation and exchange of delivery of goods and services, payments, and contracts. Digital technology is expected to exert significant influence on the temporal and territorial framework for copyright licensing. In addition to that, rising number of new licensing practices are anticipated to further support expansion of the global copyright licensing market over the period of analysis.
Type, and region are two important market parameters based on which the global copyright licensing market has been categorized.
Some relevant and futuristic developments pertaining to the global copyright licensing market have taken place in the last few years. There are very well-known companies offering copyright licensing in the market.
The global copyright licensing market is marked with the prevalence of the below-mentioned market drivers, challenges, and promising opportunities.
The global copyright licensing market is set to witness strong growth due to the growing concern of artists, musicians, and authors to safeguard their content and work. Copyright license is usually utilized for the protection of content and give due credit to the creator in industries like cinematography, music, architecture verticals, and artistic work. With the rising number of published research books and papers on several topics pertaining to product development, lifestyle, and education, copyright licensing of literature works is anticipated to emerge as one of the leading end users in the global copyright licensing market.
The penetration of new practices of licensing seems to exhibit the development and emergence of collaborative creativity. It also reflects the emergence of more dynamic and brand new position of the user in the environment of the network. Ready and easy availability of media software, hardware, and digital technologies has made each of the users a potential distributor, creator, producer, and customer of creative work. Digital technologies and platforms have entirely changed how copyright material can be promoted, marketed, distributed, consumed, and delivered in the current times. This factor has left considerable influence for the downstream and upstream processes of rights clearance. Open Source Software (OSS) and Creative Commons (CC) system are instances of recently developed forms of copyright licensing. Both OSS and CC are increasingly utilized for various commercial purposes, which creates ample scope of growth for the global copyright licensing market over the period of assessment.
North America is estimated to emerge as one of the extremely attractive regions in the global copyright licensing market. The regional growth is estimated to be supported by the flourishing businesses of industries like entertainment and media industry. Furthermore, increasing volume of literary work is also likely to play an important role in the growth of the regional market.