MUMBAI: The fifth edition of the Nokia Music Connects (NMC) kicked off on 25 November, Lower Parel, Mumbai. The welcome note and the industry overview were given by Sony Music India and Middle East President Shridhar Subramaniam. He represented the IMI and addressed the various topics concerning the music industry.
Subramaniam used this opportunity at NMC to provide a strong message about the measures taken by the Indian music fraternity like the Copyright Act India, digital music consumption, OEM and advertising businesses, curbing pirate sites and many such factors.
“The Value Added Services (VAS) declined by 80 per cent. All thanks to the TRAI regulation. However this has not affected the overall businesses of the Indian music industry,” said Subramaniam.
According to Subramaniam, today the B2B sites are more prone to the problem of piracy. Giving a different aspect in piracy he said, “Piracy does not happen due to downloads but due to ripping. However, Indian music market has not witnessed any bullish trend due to any of the negative factors but was able to remain stable.”
Subramaniam also emphasised the role of Bollywood in the music industry. “65 per cent of Indian businesses are depending on Bollywood meanwhile, non-bollywood music has seen sunrise.” The growth for Bollywood happens through advertising and the importance given to cinema. He added that all the genres of music are exploding and the industry should reap the fruits of the same.
Highliting the grothof the industry he said, “We can hope 10-12 per cent growth in next three –four years.”
The Copyright (Amendment) Act, 2012 will take at least couple of months to be implemented but Subramaniam said the changes witnessed thereafter would be remarkable. “It will not just push growth but will also allow provide space for artistes and content to grow.”