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Home / News / Business News / Report predicts boom in Indian music industry
  • Business

    Report predicts boom in Indian music industry

    Shiladitya Ray
    Written by
    Shiladitya Ray
    Mail
    Last updated on Sep 04, 2016, 08:27 pm
    Report predicts boom in Indian music industry
  • Consultancy firm KPMG and the Federation of Indian Chambers of Commerce and Industry (FICCI) released a report based on information provided by the Indian music business sources predicting a boom in the industry.

    The report, however, stated that only 1-2% of music in India is bought legally.

  • In this article
    The predicted growth of the Indian music industry Differences in valuation How are the artists affected? 2015 was a turning point for the music industry Report predicts boom in Indian music industry
  • Predicted growth

    The predicted growth of the Indian music industry

    The predicted growth of the Indian music industry
  • The report released by KPMG and FICCI showed that the Indian music business grew at a rate of 2.3% from 2013-2014.

    From Rs.740 crore in 2008, the size of the Indian music business had reached Rs.980 crore in 2014.

    The report further predicted a growth rate of 14%, and stated that by 2019, the industry would be worth Rs.1890 crore.

  • Data

    Differences in valuation

  • The "Global Music Report 2016" published by the International Federation of the Phonographic Industry (IFPI) valued the Indian music industry at Rs.610 crore in 2014, as opposed to KPMG's Rs.980 crore in 2014.

  • Effects

    How are the artists affected?

    How are the artists affected?
  • The report stated that sale of music rights for Indian films was a strong area with music rights for Category A films being sold at Rs.10-15 crores, while music rights for Category B films went for Rs.3-5 crore.

    However, the report failed to provide data about how these sales and the general predicted growth in the industry would affect artists.

  • Quote

    2015 was a turning point for the music industry

  • "After two decades of uninterrupted decline, 2015 witnessed key milestones for recorded music: measurable revenue growth globally; consumption of music exploding everywhere; and digital revenues overtaking income from physical formats for the first time," said IFPI chairman.

  • 04 Sep 2016

    Report predicts boom in Indian music industry

    Report predicts boom in Indian music industry
  • Consultancy firm KPMG and the Federation of Indian Chambers of Commerce and Industry (FICCI) released a report based on information provided by the Indian music business sources predicting a boom in the industry.

    The report, however, stated that only 1-2% of music in India is bought legally.

  • India
  • KPMG
  • Federation of Indian Chambers of Commerce
  • FICCI
  •  
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