MUMBAI: The business of music has been witnessing negative figures. All thanks to factors like TRAI’s regulations which is why companies are now finding an alternative through digital space and live gigs. Sony music is also looking at branding, digital and live space for growth.
Speaking with Radioandmusic.com, Sony Music India and Middle East president Shridhar Subramaniam said: “In 2013 the music industry witnessed a drop in business. We are expecting the market to be flat next year but later we will see growth. It is not just the TRAI regulation but also the physical sale is dropping rapidly. But the growth witnessed from performance and digital is positive. We expect the industry to grow by 2015.”
He also added that the Copyright Act of India will be implemented next year by March. “There are a couple of court cases, IPRS registration yet to happen. There is lot of back door activity that has to be done.”
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He also said that Sony Music is looking at spaces to grow and is planning to use Indian content in Srilanka, Bangladesh and Pakistan. “We are running Sony Jive which comes with Sony mobiles for which we have one million users as it is with PC and mobile. Last week, we unveiled something called ‘Music Unlimited‘ where you pay five rupees a day and get unlimited downloads. It has all genres of music. We are looking at launching similar services in Pakistan and Bangladesh. We will launch IVR Tamil services in Malaysia as well.”
He affirmed that Sony Music will not expand in any other regional space.
