All stake holders should be optimistic towards the future of the Indian music industry regardless of some major obstacles like value gap, digital piracy and scarcity of paid subscriber base in India, Regional Director, IFPI, Ang Kwee Tiang stated at the first ever Indian Music Industry Conclave.
Chennai and Chandigarh witnessed the Indian Music Industry Conclave jointly conducted by the Indian Music Industry (IMI), International Federation of the Phonographic Industry (IFPI) and Phonographic Performance Limited (PPL).
“The objective of the conclave is to strengthen specific regional chapters of the music industry with updates from international and national trends and to allow an open forum for discussions on regional market specific challenges,” said Blaise Fernandes in his opening remarks directed towards the various music labels present at the conclave.
This being the first of its kind event, leading luminaries such as Manohar Naidu of Lahari Music (Bengaluru), Aditya Gupta of Aditya Music (Hyderabad), Mandar Thakur of Times Music India and Naveen Bhandari of Muzik 247 (Chennai) in the Southern Chapter and Satinder Singh of Speed Records (Jalandhar) in the Northern Chapter attended the conclave.
Given the fast-growing Indian market, Fernandes presented a “Work in Progress Agenda” during the event. The presentation talked about the plan for the next three years on the ongoing movement of Indian Music Industry. The address urged the stakeholders to be more involved in helping to create the agenda and participate in IMI’s lobbying efforts on crucial subjects such as Anti-piracy, Value Gap and 31D in order to build a robust subscription based eco-system.
In his address Ang touched upon a number of fundamental insights from last year’s IFPI Global Music Report 2017 on the Global market and discussed the numerous challenges in fighting online piracy in India. “Despite double-digit growth for two consecutive years, aided by the incredible success of the music streaming in India, the Indian music industry is yet to achieve its true growth potential or match the trends of the early 2000s. The inability to remunerate the rights owners fairly and the menace of digital piracy continue to hinder progress.”
“We have aggressive plans to increase revenues with a strategy to engage with clients and simplify tariffs alongside professionalism and transparency. The revamped PPL will have a roadmap for the upcoming years with a goal to increase annual Public Performance royalties’ collection by 38% in 2019. We plan to implement new technology such as Online Licensing and Audio Fingerprinting to improve licensing efficacy and also work on enhancing the logging and disbursement methodology,” explained President and CEO, PPL, Rajat Kakar.