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Indian music industry is looking at growth through global promotional pushes MUMBAI: Globally, music has become an indispensable part of the customer`s shopping list. Owing to this lifestyle revolution, music counters have found their way into non traditional outlets such as supermarkets, bookstores, and what have you. The 100 plus year old Indian Music Industry has in recent times taken upon itself the mantle of trying to get an increasing share of that space internationally for Indian music labels. Says IMI secretary general Savio D`Souza: “The global music business is over $42 Billion per annum. India`s contribution to that is a mere Rs 500 crores. But looking at the scope now, we are expecting a healthy 10-12 per cent growth every year.” Hitherto, Bollywood has been accounting for a lion`s share of the annual revenues. However, the demand for spiritual, folk, and classical music is on the up in markets outside the UK, US and Canada. As awareness about other forms of Indian music is increasing, the world is now cozying up to Indian instrumental tracks instead of the simple vocal ones that Bollywood and Indipop has been churning out. Most foreigners and south Asians internationally associate India with yoga and hence, any kind of yoga or relaxation music is a hot item. For south Asians and more specifically those from the Indian subcontinent, it is going back to their roots, while for foreigners it is dabbling with something that is extremely healthy, and exotic. Says D`souza, “The world has a good percentage of Indians with high disposable income and we usually target them.”
Adds Times Music Assistant vice president and Artists & Repertoire Rajeeta Hemwani, “Film music is making it big in all walks. But countries like Germany, Russia and Kenya show an inclination for spiritual, classical and folk music. Remixes and pop music are yet to make a mark. Lounge, Sufi and ambience music are also very much liked and purchased by the international crowd.”IMI predicts that growth internationally will come through non-physical formats like digital downloads, royalty income and ringtones, among others. D`Souza says that the industry body is working on something major to promote Indian music internationally. “Details will be revealed when the deal is finalised,” he says. Currently, the IMI is gearing up to take close to 10-12 of its members to `London Calling` to promote Indian music. Earlier this year, the IMI had set up an Indian pavilion taking along with it labels such as Venus, Tips, Sony, Universal, among others to the world`s biggest audio market Midem which is held in Cannes. “The response there was tremendous, ” says D`Souza. “We are excited about the interest that Indian music labels generated through the market.”Of course labels such as T-Series, Saregama, Music Today, Giri Trading, Times Music, Vale Music also attended Midem and notched up amazing responses. In fact, for several years Times Music was the sole flagbearer of the Indian music industry at Midem and has notched up record breaking business deals and relationships globally.
Hemwani, who has attended several Midems, has a few words of encouragement : “The global markets are very much open for the Indian music industry; it`s all about packaging and presenting it rightly to the audience as it is very important to cater to their sensibility. The market is unlimited; the Indian music industry just needs to explore it!”
