The micro-licensing business could be worth over $500 million in five years’ time thanks to a growing number of “ambitious young content creators” looking for music to use in online broadcasts.

According to Edward Averdieck (pictured), co-founder of micro-licensing solution, Cuesongs, “well over one million film-makers” producing videos on a weekly basis could help open up a key revenue stream for the music industry.

Difficulties in convincing labels and publishers to make their full catalogues available for ...