The Indian music industry witnessed a growth of 15.3% year-over-year, amounting to INR 1700 crores in FY19. Digital consumption was the biggest contributor to this growth. By FY24, this revenue is expected to grow to INR 3500 crores.
The Indian music industry is expected to grow at a CAGR of 15.8% between FY19-FY24. Audio streaming is expected to grow at 5% higher than the overall music industry. The growth of the Indian music industry for audio streaming platforms shall be pushed by advertisements.
This is great news for the Indian music industry and the talent that drives this growth. With digital consumption of music driving sales, the industry is in demand more now than ever before for talent and their content coming from various regions, languages, genres & styles. But how do we ensure that the talent pool and the volume of content generation is increased in terms of quality?
The previous generation could never see a promising career prospect in Music. A big reason for this has been the lack of formal education, infrastructure, and job opportunities. Also let’s face it, people did not have exposure, the opportunity to shift & adapt to the digital world of music content that we are living in today. But with an ocean of talent & content out there today, how does an artist become better & break through the clutter. Yes, the content itself primarily, the way it is packaged and presented and the scale of promotions define the amount of success but what affects the real quality of the content? This is where formal & professional education in music and modern music production plays a pivotal role.
Creating a melody takes learning and understanding of music and musical styles. When an artist takes his learning of theory and practical form of music and adapts those techniques to his skill and style, he/she creates what goes on to become quality content. This hold true for content that is evergreen, popular or trending.
What is needed is a mix of artistic and technical skill – musical performance, music production & music post production. When these skills blend in with the personality of the artist, a hit is born. Talent is natural but skills have to be acquired .And this can be done only via formal education, in a proper learning environment, under good faculty.
Today in India, there are several schools and
academies for Music education. With more talent
and content being created and consumed, it
becomes crucial for aspiring musicians to build
a solid foundation before they present
themselves to the music market/industry. To
begin your journey towards becoming a
professional musician / audio engineer,