Variety

Better enforcement of copyright law, sops needed to boost music industry: Report

Our Bureau New Delhi | Updated on September 03, 2019 Published on September 03, 2019

IMI-Deloitte report moots music-centric grants and export schemes to develop the ecosystem

Eradicating piracy through better enforcement of copyright infringement regulations, music-centric grants and export schemes as well as steps to develop a skilled talent pool can pave the way for India to become one of the top 10 music markets in the world, according to a report.

The report, which was jointly released by the apex trade body of music industry – Indian Music Industry (IMI) – and Deloitte, pegged the recorded music industry at ₹1,068 crore ($156 million), employing 1,460 full-time employees in 2018.

Measuring the economic impact of the industry, it has estimated the “ripple economy effect to be more than 8.1 times the size of the recorded music industry with estimated revenue of ₹8,660 crore generating full-time equivalent employment of 38,600 people.”

In a statement, Vikram Mehra, Chairman, IMI, said: “The recorded music industry is uniquely placed in India to enter the top 10 markets. However, we still have a lot of work to do, and we need the government’s help in the same. If fair value is accorded to the Copyright Owners of recorded music, it will unleash tangible and intangible benefits, both economic and social.”

The IMI-Deloitte report states that there is a need to unlock fair value for the music industry by systemic policy changes and a cohesive approach towards eradicating piracy. It said that the Cell for IPR Promotion and Management, under the Commerce Ministry, has been making positive efforts for law enforcement coordination and increasing awareness of the need for better copyright protection and enforcement of regulations for copyright infringement.

Blaise Fernandes, President, and CEO, IMI, said: “India will always be a culturally rich nation with a long history of diverse and engaging music, it is languishing at No. 15 in the world in terms of the recorded music industry size per IFPI (International Federation of Phonographic Industry) metrics. Clearly addressing the value-gap problem will usher in a new era for the music industry in India.”

The report has recommended other key steps such as music grants and export schemes to develop a supporting ecosystem that is conducive to micro, small and medium enterprises, larger enterprises as well as start-ups.

Jehil Thakkar, Partner, Deloitte India, said, “ India needs to consider investing in vocational training to nurture talent. It needs to develop national universities such as the Berklee College of Music or Julliard that will focus on performing arts, especially music. In addition, music-centric grants and export schemes could enable developing talent pool and aiding larger investment required to create, market and promote musical talent.”

Published on September 03, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.