Business
"The Only Way Is Up For 2018" Mandar Thakur, COO, Times Music
By
Loudest Team
January 19, 2018
January 19, 2018
Loudest.in reached out to Top Industry Professionals, and asked them to share with us on how 2017 was for them and what are we looking forward to in 2018!
Knowing Mandar Thakur, COO, Times Music
Mandar Thakur is an integral part of Music Industry's journey in India. Taking back to starting his journey from the 1990s, heading Channel V, responsible for all music-related activities of the Channel in India and was part of the transition team when Channel V got folded back into the Star TV network in 2000. In 1999, he joined Soundbuz, as the India Country Head, Mandar was required to provide leadership and management of Soundbuzz's India business and sat on the senior international management team of the Soundbuzz group that was headquartered in Singapore.
Over a period of time, Mandar has consulted and advised many firms. He is a part of multiple international music forums and conferences, including Music Matters & The Sync Summit. Currently, he is serving the music industry while working at Times Music, as the COO of the record label, he is responsible for all aspects of the business including operations and financial bottom line as well as strategic planning and reporting to the owners of the TOI Group.
2017 was a year of probably great highs and great lows in the music Industry. - Mandar Thakur, COO, Times Music
Mandar, What were the highs For 2017 for you?
The highs included the reformation of the copyright societies, the emergence of new players/streaming services and technological advances in the way music is consumed. We have moved from mere ‘choice ‘ to a heavy dependency on ‘ recommendation ‘, and that moves the needle on the way Music is marketed and consumed.
The Music Consumption Is Growing, And Our Consumers Are Willing To Pay For The Content!
I sincerely believe that India will be a paid subscription ecosystem faster than other countries - Mandar Thakur
"It is abundantly clear today, more than ever, that music consumption is poised to grow at a gargantuan level.
It’s also abundantly clear that consumers are willing to pay for content - starting with video and the proliferation of online video services like Netflix and Amazon Prime. The step by step process to that beginning with the bundling of subscriptions has already started and I sincerely believe that India will be a paid subscription ecosystem faster than other countries. This may sound quite contrary to popular belief but I stand by this prediction. Various factors contribute to that conclusion, but the most important one being the average age of consumers going even downwards into pre-teens, whose disposition to content and its consumption, is radically different from any other age group." - Mandar Thakur
On the ‘ lows ‘ side of 2017
While 2017 wasn't the best year for Indian Music Industry, it saw more lows than highs! It's interesting to note, that after the digital evolution 15 years ago, the valuation of the global music industry has only now come to breakeven. Doesn't it surprise one to see no significant growth? It's Absurd! But well, we're a bunch of optimistic people and a passion-driven industry. Let's find out what Mandar has to say on his lows of 2017."It’s an utter shame that only a mere handful of Bollywood soundtracks recovered their money. Most tracks have started to sound the same and the dependency on ‘ recreations ‘ have killed creativity. To me, that’s utterly sad, as creativity in songwriting is the core of our business. It’s time for the music industry and its leaders to move out of the shadow of low creativity in the film business." - Mandar Thakur
We have to turn from being just a song dependent market to an artist-driven market, and that will only happen when record labels stop being sheeps to Bollywood film producers and stop overbidding for mediocrity. - Mandar Thakur
Whats In Store For 2018?
Like every year, the new year is backed by some great predictions, planning, and here too we help you foresee whats in store for 2018."For 2018, most of the dots are in place. We have a ready 4G infrastructure ( we are already one of the world’s largest data consuming markets), 4G ready handsets and available content."
via GIPHYThe only way is up for 2018 and that is certainly going to be led by video content. - Mandar Thakur
Notwithstanding the above lows of 2017 - the entertainment and media sector will have significant growth. That growth will come from the fact that the sector has gone ‘mainstream’ and has become ‘ all inclusive‘. As e-commerce and online transactions become mainstream - M&E will go even overboard. Broadly I see a massive convergence of sports, fashion, movies, and music. What was happening in sporadic pieces will now be a way of life. This will create the ‘ converged ‘ mega stars of tomorrow. - Mandar Thakur
To conclude, all, in all our industry expert Mandar Thakur looks at the year 2018, with a forward-looking approach, the only way is up. The key is action, implementation, and incubation. The industry is growing today faster than ever, and it's time we all are output driven. Defined goals are essential, and we are hopeful this industry insight will help you in your planning months coming ahead.
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