Here's some info I wrote up here (http://samplecues.com/Custom-Music) for reasons to go with custom music over music libraries. Both have benefits, but see below why custom may be a better option for you!
by Peter Gunder
www.BonixMusic.com
WHY CUSTOM?
When choosing custom music you're not just hiring a composer to produce a score that sounds similar to another soundtrack. With custom music you're choosing a composer that can bring a unique sound to your project, a partner to help bring out the best in your project through melodies, harmonies, textures and rhythms that impacts the audience experience by enhancing the atmosphere of your project. A composer will work along side you and bring out the essence of your film or game by make a lasting impression on the audience, sometimes in a subtle way through an intimate solo instrumental passage, or sometimes with a dynamic dissonant layer at the climax of a gut wrenching scene. A composer brings something 'special' to the mix that can only be obtained through a custom soundtrack. Custom music is recommended for the best end-user experience.
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CREATIVITY
The main purpose for hiring a composer is their creative ability to produce music uniquely identifiable to your game or film. Also, many creative methods are needed to produce the right ambient atmosphere and custom music offers unlimited creative possibilities. Each scene or sequence will have its own unique challenges and finding inventive solutions that's both musical and effective is where custom music shines. A composer using their creative musical insight can make a good multimedia project into an incredible experience!
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FLEXIBILITY
One of the most powerful benefits of custom music is the ability to make adjustments to an arrangement as needed. Perhaps the music tempo is to slow and not aggressive enough or maybe there's too much melodic movement and you would prefer light foreshadowing of a theme. With stock music you're severely limited on making any such changes, if at all. However, custom music opens up the possibilities to make these adjustments and so much some. Flexibility is just one of the many benefits of custom music.
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PARTNERSHIP
As the producer or director, you get to call the shots. However, when hiring a composer you now have a team member with the expertise to bring your project to the next level. If your not sure what type of music or style should be implemented, the composer will find the 'sound' that fits the mood of your project or scenes. Having a composer on board means having a partner who supports your vision by delivering great music!
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PLANNING
When custom music is required for a project, careful planning is recommended for maximum results. For those new partnering with a composer, we'll walk you through this process to help ensure a solid road map is laid out and answer your questions. The composer will also request information to help them do their job successfully. Following the first consultation, the composer will present a plan so he/she can move forward with the research and composing!
Bottom line, custom music gives you much more flexibility and room to explore different atmospheres tailored to your unique project!
Peter Gunder
Multimedia Composer
www.BonixMusic.com
I'd rather the link was moved to the end of the article. This way looks a bit too much like an ad.
Wouldn't hurt to mention the difference in cost between licensed music from a library and original music. My understanding is that the former is significantly cheaper, which might affect indie studios in particular?