Indian Music Goes For Online Sales
Here’s one for the music lovers.
Joining Saregama, are other players like Sony BMG, T-Series, and Tips etc. who plan to make a total of over 5 million tracks available on their own websites and other portals for full song downloads in a bid to monetise their content through the internet, and fight piracy.
Saregama India, for instance, has been test marketing the service for over two months now, it soon plans to make available 4.6 million tracks it has acquired, apart from the 0.3 million music tracks it owns under its banner.
Of the current Rs 740 crore music industry (expected to touch Rs 800 crore), Rs 670 crore comes from physical music sales, while the rest is contributed by digital music. This move comes as an answer to piracy, which is as high as 55 per cent, leading to losses of close to Rs 200 crores.
Given that piracy is equally if not more rampant in the online media, with most people used to downloading songs for free online, this antitode will need some serious promotion to succeed.
[Source]
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Filed under: Business, India, Statistics
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Music companies can keep trying till kingdom come to monetise their content, and guess what – it ain’t gonna work! And that’s because of sites likes fmw11.com and songs.pk exist, and will continue to do so in some form or the other.
The Internet has, forever, changed the way people will consume content and music companies have to live with that now. And hey, I wouldn’t feel too bad for them – they have also seen the phase when they were charging Rs 600 for one audio/music CD, and people used to pay up!
As with all content that can be digitised, ad-supported distribution and paid-for value add-ons are the only way to go for the music industry. Sorry, but that’s the way it’s gonna be.