Various New Trends In Indian Music Industry Media Essay

Various New Trends In Indian medical specialty Industry Media EssayThis cover up is to analyze of various smart trends in Indian unison labor. The research is based on Sony unison Entertainment India Pvt. Ltd. It is a wholly owned subsidiary of Sony Music Entertainment, Inc (SMEI), New York. It is maven of the roughly known recording companies in the world and growing its business in India rapidly, as Indian medication intentness is known for its bollywood (Indian film perseverance) harmony, and its growing business in Indian mart. The organization and the country chosen in this cut through is to explore its recent trends and the ciphers which affecting the company as well as the Indian medication intentness (IMI). IMI is not an ordinary industry, as it is one of the important sources of receipts for Indian authorities.The report is focussed on the Indian harmony industry and its new trends and pre and post thoughtfulnesss tie in to these trends. The main str ucture of the report is three important parts which includes four trends which ar supported by various articles, journals, reports, online information and entropy and other various literature which support the evidence of all four trends and followed by the scenarios based on deductive approach and finally, the implications of these trends and on the basis on which conclusion is drawn. The report is completed based on knowledge acquired in the class, here and nowary data and the great support from Mr. Stephen McGrail.Industry and market backgroundThe primer to choose the unison industry as a topic to researcher is due to the things make our forethought in the world like in UK, at least 7 million deal white plague il effective fine-tuneloads, costing the economy billions of Dollars and thousands of jobs, according to a report. Which reflect that the illegal downloading is robbing the worlds economy with millions of Dollars e genuinely(prenominal) yr and seriously damagin g business, innovation and music industry throughout the world .This is something which really need maintenance from the masses as well the regime in tackling this issues.Following formula show prominent revenue decrease in music industry from year 1999-2008(Figure Where is the money going? (Reason Number 3 for the toss out in Music Sales Availability Too Little or Wrong Format 2010)The issues which is making the set back to the music industry go out be the future money machine in the long term prospective if they atomic number 18 considered reasonably i.e. in next 5 years, mesh pull in usage bemaking sales down it will create more than revenue for the government as well as the music industry like Sony, etc. with the use of e-commerce meanslike iTunes and YouTube.We atomic number 18 taking Indian music which is full of diversity due to its large macrocosm and growing economy. The market size of Indian Music industry is about Rs.777 Crores (USD 149 million) 2009. Digita l market has been expanding rapidly and will antedate to a trend of gradual substitution within the next 5 years. Piracy has been a line of plow since long in Indian market and still remains. Overall, the music industry is estimated to grow at 3% every year for next five years (Music marketplace 2010 the Indian Music Industry, http//www.indianmi.org/national.htm viewed 30th family line 2010)Following figure show that the despite music revenue dropping in western countries, the music industry in India still maintains on steady offset.(Source revenues of the music industry in India Figure shows the industry revenue of India in Crores (ten million)Figure shows the distribution of Indian music market. Film is a critical abide off factor in Indian music, taking over 3/5 of the market sh are. International and local anesthetic pop music is nearly half-half, respectively 6% and 8%.(Figure Genre wise distribution of music sales in India Music Market 2010)Organization Background.Son y Music Entertainment is the second largest recording music company in the world. It counted among the BIG FOUR music companies. Sony music was founded in 1929 with the merger of several vitiated companies. subsequently many acquisition and joint venture in 2008 Sony Music buys all the share of the company. The congeries revenue of Sony Music is 3.9 billion U.S$ with a growth of 2.2% in 2008. Sony Music pastime signed a deal with you tube and have its own channel on you tube.Sony Music Entertainment India Pvt. Ltd is the wholly owned subsidiary of Sony Music Entertainment Inc (SMEI) New York. It is the only integrated company in India, with manufacturing, marketing and distribution. Sony Music entered Indian market in 1996, which begets lots of change in Indian music industry in the main Sony creates a transparency in the music industry and focused on quality. And the or so important thing Sony music exported Indian music to international audience in like manner. Total marke t share of company in 2007-08 was 10 % which is, much gameyer than other music companies in India.The economic trend which can be seen in the Indian Market is the Rising of snapper class as we know Indian is the one of the world largest economy with good purchasing power which is in the hand of the center class as the population density of India is more toward middle class. This is effecting the Indian music industry as the buying aptitude of the music gadget or the instrument which now a days mostly movement on the digital storage and consume storage as they are more compact and mobile disregarding of the old sources like walkman and the Disk players.Second, Indias service industry accounts for 55% of the countrys Gross Domestic Product (GDP) in which digital market growing in the steady flow. Lastly, the wealthiest of one-year-older and in that respect westernization as more and more go study overseas and come back with a better paid career. In which the Australia is the second largest group of overseas students in number after China. They are building a larger middle class, and also their appetite is influenced is more towards western lifestyle.Post-condition to sustain this trend in future are first of all the change magnitude number of legal website exists like iTunes Store for downloading and the rule and regulation will increase their tender to all these downloading site . Secondly, post-condition is the technologies in the Indian market will grow and will keep them up to the mark with the world in reference to the music software, music formats and device to play with.The pre-condition of the trend in which the companies foc employ on Internet Entertainer is due boylike generation is turning toward the short term entertainment and they really chicken feeding love it as there million of Face book posted icon which is high supported from the youth which reflect that more population involving there most of the time in day doing social- mesh topologying whether its on Laptop, desktop or Mobile. This culture is also increasing due to increasing affording mental object of this youth market.The Post condition which is required to sustain this trend are firstly , the increasing in number of IPTVs channels from the help of the internet provider. Secondly ,rising patent and written matter right law and the issues related to them and last the increasing number of posted video which organize to the numbers of talents and self made celebrity. wakeless trendThe trend is Copyright for Remixes, where Remixes are nothing but some changes made to original songs in other words old wine in new bottle. And the most important issue is the young generation enjoys remix song more than that of original songs and it is an easy way of popularizing old forgotten songs. And as remixes are copied of already existing musical works so issue of copyright is an important issue in India. In over past few years the huge sale of this kind of music p roves that great deal like this kind of music. And this new trends is good for both customers and Indian music industry, as customers are acquiring more variety of music and good for industry as it gaining new talents and upsurge in revenue, for event an old song kaanta laga is remixed and released in year 2003 by an Indian music company T-series and its has taken remixes to a new height and boom the remix market.EvidenceFrom year 2001-2004 around 5500 cases were registered by Indian music industry and government official seized 25 lakh compact disc. And the according to the copyright act 1957 5 portion of the share from the first print order has to be sent as royalty to the song possessor (singer)Pre-ConditionPre condition that leads to this trend is that operatives are start losing loyalty and they getting less money as most important task is done by them and the remix mechanics making lot of money. And government and Indian music industry estimated that because of piracy th ey had a loss of 190 million U.S dollars in terms of sales tax, excise duty, and income tax. And most important Indian consumers are suffering because they are buying poor quality of products and supporting the thievery of intellectual property.Post ConditionThere are several post conditions of this trend like growth of more online distributors in India few e.g. Fabmart.com, soundbuzz.com, musicurry.com, vindia.com, audiofind.com, mp3.com are some of the websites frequently visited by music fans to download Indian as well as international music, musicurry.com is the only Indian portal to have obtained license to forces and play Indian music online. Secondly increasing copyright protection of online contents as Indian music industry (IMI) has set up Anti-piracy team in year 2000 for internet security which is headed by a famous Indian official who has been working with IFPI to face piracy in India and the result of this IMI has managed to miserly five hundreds sites which enables c onsumers to download music illegally. IMI also focusing on Websites which are involved in cyclosis and downloading Indian music with the collaborations of IFPI (IFPI represents the recording industry worldwide, with a membership comprising some 1400 record companies in 66 countries and affiliated industry associations in 45 countries) and the most important initiating actions against consumers downloading music through P2P transfers which result the famous downloading source KAZAA is closed. And for the success of all this effort retail merchants increasing extent of rules by government specially remix music retailers.The technological trend.This trend refers to the engine room boom which leads to the strong competition in the technological market which leads to cheesy and quality products. As the increases consumption of the desktop, laptop and the other digital devices in India. It brings the technology as the internet that is a significant influencer directly to the Indian mus ic market. Especially, the online market stimulation which fulfills the customer need and bring low cost and quality of product (IMI 2005).EvidenceIndian would like to use the technological devices such(prenominal) as iPod or other products of Apple. Even though the taxes of these products are high, they are willing to buy these products.(Carney 2010).Pre conditionThe pre condition to this trend is the increase in literacy rate in Indian as the most of the young generation is educating them self to sustain in the competing world and the second the amount of the foreign direct enthronement flowing in the India is leading to high technology development due to the technology transfer from the grow company.Post conditionThe post conditions to sustain this trend are firstly the technology shift from small to Nano devices in the reference to there size as well as the serviceer on which they work on and secondly as per the data the demand of the high tech product in India are increasin g day by day which reflect the continuous adoption of the hi-tech life style disregarding of their high cost.Scenario Methodology.To analyze how the four trends interact between each other, we employ a cross-impact table in which vertical columns are active, and the horizontal ones are passive. With the help of this we will conclude the most uncertain factor to analyze the future scenarioEmerging middle classSuper tech.Internet EntertainerLegalEmerging middle classMake people buy moreGo for more diversified ent. More bother to P.C. NetNo more piracy supportSuper tech.More salesMore iPad, iPod, iPhone, istimulationaccelerateInternet EntertainerMore audienceMore online recourse availableRegulate and manoeuverLegalMore requirement for legal supportBetter guaranteeForce to, lead toWe are using deductive method to analyze the music industrys future scenario. We have chosen the two most uncertain factors from the cross impact table that mostly influence the future of this industry in India areExtend of the government of rule and regulation.Adoption of high-tech life style.Extend of the government of rule and regulation.As we know that Indian is the Country with the second Largest population in the world and the government structure is very complicated which can create in the uncertainty in the adoption of the rule and regulation in Indian as whole. But in this Factor we are taking about the measuring and the consort of the rule and regulation the government impose in the country to measure and observe the online activities. (E.g. Bit torrent)The clear of the rule which can be imposed can be on the legislation on using a musicians product in any sense (e.g. processing remix of original songs) will have to pay the copyright fee or loyalty to the musician and company as well as the artist because at the moment no one is paying for using anyone works to remakeAdoption of high-tech life style.As we talked about population of the India in previous uncertainty fact or ,the same things also refer here that the Indian population is very diversified in the sense of age ,cast and morality .And the adoption to the new high-tech life style is somewhere widely excepted and somewhere not. And the young population which we are mainly targeting can be ridged in some part and open in some part of India which depend on the background they came from and ultimately influence the music industry.Following figure we have shown the deductive method. In which we have taken both the uncertainty factor on the axis vertebra to find out the future scenario for the music industry. With the help of this we are able to formed four quadrants by using the uncertainty variable in which each of them stands for a possible and Negative scenario which can occurs for the Indian music industry.Description of Scenario.Scenario 1 Internet Parade slump legislation vs Low technology adoption.It very much represent the present plaza of market, when nearly all the resources are a vailable freely and people dont always pay copyright fee even if they use music products digitally i.e. downloads. This will belike happen because of low extend of the Rule and regulation from the government will favor people to decipher for free downloading site.Scenario 2 Websites WinsLow legislation vs High technology adoptionWill lead to infrequent of free downloadable music recourses because of high technology innovation on coding of digital information and websites start to charge for downloads or paid sign up for downloading.This will happen because there is a prevalent discipline when it is about resource it would be business opportunity for the online retailer but not for the government revenue as due to low regulation.Scenario 3 Grey MarketHigh Legislation vs. Low technology adoptionObjectively there will be large amount for downloadable or transitable music products, but will be highly restricted by Government Regulation and laws. So the situation could be that the downloading or sharing behavior would convert to underground way through social network and with sharing of content through communities like face book, AOL, MSN, QQ and other chatting tools and networking sites.This will possibly happen when there is strict prevention of illegal downloading, the websites providing this would disappear and social communities and chatting tools would take relay of this thing because they are passing popular among peers and they surely can be a good media for transmitting digital property products by friends-sharing between individuals, without offending the law.Scenario 4 Bright EraHigh legislation protection vs. High technology adoption.This is favorable future for music industry. Customers have to pay for all online resources, and they cannot be transited easily and the artisan and overlord wont lose their loyalty.But in real sense this is somewhat difficult to happen, because either of the legal and technology part will meet obstacle, even also the music companies work hand-in-hand with government. The concerning issues related to foeman of internet users, among who are majority brought up in an digital environment that all the transformed products should be shared freely, and ignorance and lack of consciousness of intellectual property in developing countries. And also both of their process takes long time, maybe decades to actually implement practically.Implications.Key Risk.The New technology will be at risk till it has been widely accepted or has been globalised or nationalized.The new technology will lead to the potential risk for example the Transiting between the devices will be more difficult.In future more online retailer will play in market as its growing and will lead to the high density of completion in the digital market.Cost of the Original Music will get down due to the high technology and low inventory cost in the production of the music.Key Opportunity.Online retailer and the big music company like Sony Music will have the opportunity to work with the government hand to hand regarding the copyright issues and the other related issues to protect their right as well the artist loyalty .This digital market will give Indian music industry a new face which will be broader and full of new opportunities which will help the Indian music industry to grow worldwide.This will lead to improvement in the quality of the music and with the advancement of the technology the more file format will come for the music for example mp3, FLV, WMV, and ACC.Many more coming in future.Conclusion.After the Depth research of the industry and the chosen market we can conclude that the growth of this industry in the future is favorable and proposed scenario may occur in which the most favorable are Grey Market and the Bright Era.The movement of the physical CDs and the DVD will decrease or we can say will demolish as we can see these days and the future will be more of the flash drives and the digital market .W ith the help of the technology the government will have the more power to monitor and track the online downloads and the uses will help the government to generate the more revenue from the online industry which they are losing these days.The Artist and the music producer as well the singer will be free to circulate their work or art as due to high regulation and rule on online market their work will be protected and which will give the freedom to share with the world without fear of copy or illegal Issues.Lastly we conclude that the more and more Music company will work in hand in hand with the online entertainment sites Like YouTube ,You ku, etc.