MUMBAI: The world’s premier music publication, Billboard Magazine, has released its 2024 International Power Players list, honouring executives who are at the forefront of driving the global music business. The list highlights executives primarily responsible for the global music market outside the US, which accounts for a staggering 60% of the world’s recorded music sales.
This recognition comes at a time of phenomenal growth for the worldwide music market. In March, the IFPI released its annual Global Music Report, showcasing worldwide results for the recorded music business in 2023. The report highlighted that revenue had grown for the 9th consecutive year, reaching a whopping $28.6 billion worldwide, largely driven by the surge in music streaming.
Even more impressive is India’s contribution to this growth. The Indian music streaming market itself has ballooned by an incredible 81% year-on-year, fueled by the country’s young demographics, and increasing internet penetration. This surge has positioned India as a key player in the global music industry.
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The Billboard list reflects this growth by recognizing 6 executives of Indian origin who are making significant contributions to the Indian music market’s success including:
Manu Kaushish, President, India, Create Music Group
Shridhar Subramaniam, President, Corporate Strategy and Market Development, Asia and Middle East, Sony Music Entertainment
Vinit Thakkar, Managing Director, India, Sony Music Entertainment
Jay Mehta, Managing Director, Warner Music South Asia and Warner Music India
Devraj Sanyal, Chairman/CEO, Senior VP of Strategy, Asia Pacific, Middle East and Africa, Universal Music Group India
Prashant Bahadur, Executive VP/Head Of Strategy, The Orchard
