The world music industry has its eyes set on India. With a tremendous consumer base and appetite for music, India is a territory that is much sought after. One of the biggest music streaming platform, Spotify, is expected to launch their services in the country next year. Speculations are rife about the surge that the industry shall witness. These speculations are based on the performances over the recent years. Given the growth of the music industry, especially the music streaming market, the upcoming year is expected to live up to its expectations. To shed more light on what lies ahead for the Indian music industry in the year 2019, Music Plus spoke to some individuals, who enjoy a bird’s eye view of the industry, about their predictions for the industry and also the plans of their respective organisations.
Aashish Rego – General Secretary, Music Composers Association of India (MCAI)
The easier the mechanism of tariffs is set in the better it is.
My predictions are that good times are ahead for the Indian music industry if the stakeholders unite under one platform and also if uniformity and transparency in royalty collections and licensing is brought in.
The music industry has been witness to technological disruptions in traditional sources of revenue. It is now time to embrace change and create innovative systems of monetisation.
More value adds to the music must be explored by giving the end user a complete musical experience and encouraging paid content.
Saregama showed the way with the Caravan by tapping into a market that almost didn’t exist More such ideas and innovations are required as the end user is currently used to not paying for music.
Atul Churamani – MD, Turnkey Music & Publishing Pvt. Ltd.
That subscription revenue from streaming services will grow is a given. Consolidation of players and platforms will also make the business more focussed. The great work being done by PPL, IPRS and PDL will also ensure better revenue to creators and producers. And You Tube views will continue to be the only agenda for creators!
In my creative crystal ball, Punjabi, hip hop and Punjabi hip hop will be chased but with diminishing returns. The live music scene will continue to grow with more festivals and standalone events. Music collaborations will increase, hopefully giving rise to some fresh sounds. And some platform / producer / label will get it right so expect to see a couple of big breakthrough acts!
Blaise Fernandes – President & CEO, Indian Music Industry (IMI)
For the past three years the revenues from the recorded music industry has grown, based on early trends we are confident for another good year of growth in 2019
IMI will be expanding its membership base to get regional representation at the National Board. IMI will also be releasing a series of India Focused Research Reports. IMI will conduct a number of workshops for its members to keep the members abreast of business trends and how to monetize their content given the new opportunities and challenges.
The national event Dialogue, ‘The Indian Music Industry Convention 2019’ will be on 26th August 2019, with the theme ‘Turbo Chargers: Towards Vision 2022’. IMI will also release the ‘IMI Charts’ in 2019.
Gautam Sarkar – Business Head, South Asia, Ditto Music Ltd
People are looking forward to independent music and artistes coming up. You will see a lot of new breakaway artistes and acts showcased by Indian labels and artistes themselves are looking forward to digital platforms. That will be the trend and there will be a lot of emphasis on this. Independent acts will be marketed a lot. Ditto is not a Bollywood space still so I will not comment on that but overall it will be the year of independent artistes.
We will continue to partner with many independent labels and go forward. One of our Punjabi artist crossed 18 million views on YouTube in 2 weeks. We are very clear about our focus which is to develop regional acts, create and showcase artistes in music festivals outside India. That is what we looking forward to in a big way.
Mandar Thakur – COO, Times Music
The Indian Music Industry has had an upward growth over the last 2 years which also reflects the global music industry’s upward double digit growth. That should pretty much be an accurate prediction of what will happen in 2019 as well. Music consumption is shooting up, piracy is being combated aggressively by the music industry and 2019 will see the entry of a few more global music streaming platforms.
Brands using music is now almost a daily habit and music is probably the most effective outreach that brands can use towards different slices of society. We have witnessed the birth of the ‘multi genre’ consumer this year (someone who consumes all forms of music equally) and this will pretty much be the norm in 2019 onwards.
As I always have said every year, we are inching a few steps closer to music subscriptions. 2019 will probably be a seminal year in defining how music subscriptions will pan out. We will also see some M&A action in the streaming sector and the entry of social / karaoke streaming players. These players will usher in the next stage of online music consumption engagement and behaviour.
Times Music has had aggressive growth and has changed repertoire direction from its roots to being a pioneer in the non-film music business. We acquired the catalogue of Speed Records, the world’s most significant Punjabi label. We are today a significant player in the regional business. Whilst most others make noise on their originals and exclusives, we have been quietly and steadily building up our business to deliver maximum output.
Times Music will be announcing a couple more acquisitions this year and also an announcement regarding more publishing tie ups with global companies for their India business . More importantly you will also see a huge slew of contemporary music releases.
Priyanka Khimani – Founder/Partner, Anand & Anand & Khimani
I hope they are able to streamline the whole licensing process in the country. Even today there is a lack of clarity among music consumers, artistes, streaming platforms and the people in music business about how to acquire all these licenses. For the foreign players entering the India music industry and even the present Indian music companies, the main challenge is the licensing. Licenses are a big source of revenue. It has a cascading effect as it also directly relates to public performance. Also the copyright societies need be evolved so that the authors and artistes get their dues. I hope they strengthen this aspect in 2019.
Rakesh Nigam – CEO, Indian Performing Right Society (IPRS)
The scenario looks very promising with multiple players entering the Indian music market, especially with Spotify entering the market, Facebook opening up to music and other foreign players entering the market.
The authors and composers will also benefit as the IPRS revenues are bound to grow. We are taking major steps to avoid their exploitation.
As per the industry leaders, 2019 holds a lot of promises for the Indian music industry. Given the recent market trends, a lot of these promises look certain to be fulfilled.
Compiled by Hardik Joshi.