A major name in the music industry of India is the Indian Music Industry, a trust that was set up on 28th February 1936. The organization was named to Indian Phonographic
Industry to start with and ever since its incorporation has played a major role in copyright protection of music producers and fostering the music industry’s growth.
Indian Music Industry Size
As per estimates of Indian Music Industry, almost 15 crores cassettes and CDs are legally sold in India at an average price nearing INR 40-45, implying a total value of INR 670 crores. It is expected that in the years to come digital media will play an important role in driving the growth of this sector. The Indian film industry is also a significant partner of the music industry and has been a consistent contributor to its revenues.
Indian Music Industry Structure
In the last few years there have been significant changes in the way music is heard and sold across the country. The structure is also different from most industries across the world. During the 1990s film and devotional music were the major components of the market. However, with increased exposure to satellite channels and web based platforms, remixes and non film music have gained a lot of popularity as well.
In India, devotional music is the biggest sector in the non film category. This sector is seeing some new companies who are completely focused on providing high quality music for the core audience and have opted to stay away from film music as a whole.
The music of recent Bollywood releases comprise 40 percent of the market and old Bollywood
classics make up 21 percent of it. Almost 8 percent is made up by popular non film albums and approximately 7 percent belongs to the regional film albums. India’s propensity for international artists means that nearly 6 percent of the market is made up by such albums.
Indian Music Industry – Major Players
The top music labels of India are members of the Indian Music Industry and may be enumerated as below:
Saregama India Ltd
Universal Music (India)
Sony Music Entertainment (India)
Indian Music Industry – Career Opportunities
The Indian music industry offers various jobs for interested and skilled candidates:
- Music therapists
- Disk jockeys
- Music teachers
- Video jockeys
- Music composers
- Radio jockeys
Last Updated: 03/10/11