The End of the financial year is an important and busy time for small business owners, completing bookkeeping, tax returns and begin planning for the new financial year. Putting the hard work in each financial year helps the businesses get organized and work smarter in the year ahead. In this article, we reached out to Blaise Fernandes, President, Indian Music Industry to understand his key learnings from 2017, and as the plans for the association for this financial year 2018-19.

Getting To Know The Indian Music Industry!

The Indian Music Industry (IMI) is a trust that represents the recording industry distributors in India. It was founded on February 28, 1936, as Indian Phonographic Industry (IPI). It is the 2nd oldest music industry organization in the world that was involved in protecting copyrights of music producers and supporting the growth of music entertainment industry. IMI has its registered office in Kolkata and Administrative office in Mumbai. It also has offices in New Delhi, Chennai, Bangalore and other major Indian cities working on the protection of rights of music producers and preventing music piracy. Let's take a look at what Indian Music Industry learned from the financial year 2017 and what is this coming year looking like!

The Learnings from 2017-2018 For Indian Music Industry (IMI)

2017 has been a year full of learnings, and there were a few for Indian Music Industry (IMI), under the leadership of Mr.Blaise Fernandes that they shared with Loudest.in

1. The Cell for IPR Promotions & Management (CIPAM) under the aegis of Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, had launched a social media campaign to promote Indian Geographical Indications (GIs) with #LetsTalkIP which is an ongoing movement initiated by CIPAM to make more people aware about the importance of Intellectual Property Rights.

Mr.Blaise Fernandes added,  #letstalkIP is the hashtag of CIPAM a DIPP division where the Govt. talks IP protection and walks the talk with it  with a multipronged approach, that’s a big welcome, and a learning!

2. Who can miss out on the greatest Indian start-up, Jio! It changed everything for the music consumers and the industry as a whole. The smartphone uptake and increased access to the internet broadband services have definitely shown changes in consumption pattern, and open multiple growth avenues for the industry at large.

Blaise Fernandes said Smartphone uptake and better mobile broadband have prompted consumers to subscribe in their millions to streaming services thanks to the #Jioeffect

Additionally, Mr.Fernandes believes that the decisions taken by various regulatory bodies in India and globally are a welcome sign for the music industry. It is interesting to note that the global hits are also showing a positive growth in the Indian market, and we are attracting global eyeballs. Ed Sheeran’s SHAPE OF YOU hit 3 billion viewers globally on YouTube and 250 Million approximately in India that’s 10% of the global market, international is also growing in India by approximately 200%.

Some interesting changes that we all must acknowledge and celebrate, "The Indian Performance Rights Society has got its approval, Phonograhpic Performance Ltd. will get the formal approval shortly , and the better coordination with central and state government is building on the momentum from 2017. - Blaise Fernandes

Sneak Peek Into 2018 Of Indian Music Industry As Shared By Mr.Blaise Fernandes!

1. Step on the gas to implement a robust anti-piracy program

2. Reduction of the value gap

3. A national level conclave for the music industry to be hosted by IMI