This report is of interest to our publishing clients and any/all interested music supervisors and licensing buyers. We’ll provide an overview of the current LicenseQuote site statistics, trends and provide some related commentary.
Primary content providers
Number of active publishers – 95 (includes library owners)
Number of accounts with Monthly plan – 25
Number of accounts with Yearly plan – 70
Number of accounts with storage plans – 54 (LQ integrated storage)
Number of accounts using own storage – 41
Total Number of brands – 441 (artists, composers, catalogs, etc.)
Average number of brands per store – 4.6
Tracks and genres
Total Number of tracks – 10,624 (September 1, 2011)
Average number of songs/tracks per store – 112
Total number of primary genres – 308
Total number of tags – 14,784 (used to filter and search tracks)
Average number of tags per store – 155.6
Average number of tags per track – 4.9
Total number of buyers – 659
Number of pre-registered SSO buyers – 351 (Single Sign-On)
Number of non-SSO buyers – 308
Average number of buyers per store – 6.9
Total number of inquiries – 1,684
Average number of inquiries per store – 17.7
Total number of sold licenses – 562
Total number of the licenses sold with PayPal – 251
Total number of the licenses sold with off-line methods – 311
Average number of sold licenses per store – 5.9
Average sales per license – $80 – $300 (range estimate based on pricing research, global stats and feedback from various publishers)
Analysis and comments
The stats from this report are cumulative over this past year since we developed the global stats report to monitor the LicenseQuote site activity and related trends. The report lets us check updates any day of the week, but we only spot-check weekly and then run a monthly report after the last day of each month to follow the monthly trends which you can also view on this LicenseQuote global stats chart. Note, this will be updated from time to time to reflect the latest available report.
Inquiries vs sold licenses
It’s normal to have more inquiries than actual sold licenses. There are several fundemental reasons which explains this.
First, buyers are often placing quote request inquiries to compare pricing for unique or custom usage of one or more songs for their upcoming projects. Later, after a deal has been negotiated, it’s possible to combine multiple tracks on the same license, hence, more inquiries will appear (statistically) then actual Sold licenses, though of course it can involve just as many total tracks which actually got licensed, for example, with “bundled” deals.
Inquiries may be concluded later
Some licensing inquiries, such as Request quotes and Place bids, may not conclude the negotiation process or be purchased until a later date when the final project deadline is due. This means these inquiries are “on hold” until such time that the final budget for the project is approved and released. This may take anywhere from a few weeks to several months, as needed.
Some inquiries may be dropped or abandoned
Some license inquiries get abandoned if the final terms and pricing negotiated was never completed or agreed on. Buyers can delete such un-purchased inquries, but may save them for future quote comparisons. Perhaps the terms and pricing were acceptable, but the buyer might wait for a different track to be available, or the track was acceptable, but other terms or pricing have not yet been concluded for other reasons.
Ratio of publishers to buyers
One of the most interesting trends is the healthy ratio (balance) of publishers and buyers. Since LicenseQuote attracts high-quality professional content providers (publishers, composers, producers and libraries, etc.), and our service is NOT free like some music sites are, we are better able to “filter” the quantity and quality of the provided music content. This in turn attracts a higher quality and quantity of interested music supervisors and licensing buyers.
Advantages to publishers and buyers
The advantage to our subscription clients (publishers) is that they don’t have to compete with literally hundreds of thousands of artists, bands and songwriters. The advantage to the buyers is that they can deal directly with a highly focused, growing group of professional content providers who are business-ready to serve them with superior music, industry practices and service quality… which LicenseQuote enables them to easily manage with our integrated licensing platform.
If you have questions or comments, please feel free to contact us with one of the forms on our Contact page. We’ll be happy to assist and will appreciate any suggestions or feedback.