In a year when a global pandemic brought music performances to a stand-still and sales of music records collapsed, digital streaming emerged as the saviour for India’s music industry, the latest data from the International Federation of Phonographic Industries shows.
Digital streaming revenues rose 21% in 2020 to $153 million, slower than the 26% growth recorded in 2019 but enough to push the overall music industry growth to positive territory despite a collapse in other revenue streams. Overall music industry revenues grew 5% to $180 million last year.
Read more : How digitization saved India’s music industry from covid-19 (livemint.com)
INDIAN MUSIC INDUSTRY REPORT TAKES AIM AT SAFE HARBOURS
Complaints about the music industry suffering from a ‘value gap’ are far from just a western affair. Indian music industry body IMI has published a report exploring why the film industry in India has grown so much bigger than the music business, despite their close links.
With IMI estimating that 70% of recorded music in India is film-based, it’s a valid question. “Despite this symbiotic relationship, today the film industry is valued at 19,100 cr., while the music industry is valued at a mere 1,500 cr,” notes the report’s introduction – that’s around $2.5bn and $198.9m respectively.
A couple of reasons why IMI thinks the music industry has been short-changed are very specific to India: non-voluntary licensing of recorded music for radio airplay, and the waiving of public performance fees for weddings. However, it also takes aim at a global industry bugbear: safe harbours for ‘intermediary’ user-generated content platforms.
The report suggests that the ‘value gap’ here is between 506 cr. and 700 cr. a year ($67.1m-$92.9m), plus another 361-500 cr. ($47.9m-$66.3m) from a combination of digital piracy and “unauthorised content on short form UGC apps”.
Read more : https://musically.com/2021/04/14/indian-music-industry-report-takes-aim-at-safe-harbours/
MUSIC MARKETING TIPS : PROS SHARE THEIR BEST ADVICE AT SANDBOX SUMMIT
Before you create, consume. “Every other week, we find out and discover new platforms, new advertising channels, new apps that are gaining traction or just super-cool,” said Sarah Ismail (regional marketing director, Greater China and South East Asia, Warner Music Group). “Before you create a campaign around a new platform, get in there, try everything. Familiarise yourself with the platform… get to know its kinks, get to know its risks before trying to exploit it.”
Look for ways to do things differently. “It’s easy to just copy and paste campaign ideas that have been successful in the past for other artists, but try to be more bespoke in your campaigns,” said NeglaAbdela (head of digital marketing, Ministry of Sound Recordings) . “Going with your gut and listening to your instincts. Go with what you feel more than what you think… your instincts sometimes know best.”
Read more : https://musically.com/2020/09/25/music-marketing-tips-the-pros-share-their-best-advice/
