A decade or so ago, streaming music over the internet in India was left to the mercy of slow data connections. Listeners also remained bound to their desktop computers or laptops, as they created and listened to their favourite playlists. But now, thanks to the ubiquitous smartphone, and data connection speeds that have finally caught up with demand, streaming music has become a seamless and stress-free activity.
What has helped, along the way, is the emergence of homegrown streaming apps and platforms that offer a wide variety of music, ranging from regional Indian pop and Bollywood, to Western classical and K-Pop. The dominant position that digital platforms have come to occupy can be gauged from the fact that that 78 percent of revenues for the recorded music industry in India now come from digital distribution, according to a 2019 IFPI Global Music Report.
“Everything has changed in music,” says Rishi Malhotra, the New York-based co-founder and CEO of JioSaavn. “Albums have shifted to singles. Annual releases have shifted to quarterly drops. Playlists placements are coveted. Listening on repeat is essential to lead the charts. Songs are shorter. Access is ubiquitous. Data is being applied to everything: From platform features to UI placement to projects being greenlit.”
An August 2019 KPMG report on India’s media and entertainment industries says that monthly active users (MAUs) on music streaming platforms have increased by 50 percent, from 110 million in March 2018 to 165 million in March 2019. The music streaming industry is likely to continue growing by 20 percent between FY19 and FY24.
Bu hikaye Forbes India dergisinin September 27, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes India dergisinin September 27, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet