With an illustrious career spanning decades, Kumar Taurani, Chairman and MD, Tips Music, has been at the forefront of shaping the music landscape in India and beyond. His relentless pursuit of excellence and unparalleled passion for promoting exceptional talent have not only earned him accolades but also positioned Tips Music as one of the most influential music labels in the nation.
Taurani recently spoke to Loudest.in about the key growth drivers for music labels and the continued dominance of Bollywood music.
Q1: The rise of digital music has been remarkable, and recent numbers show a fantastic growth for music labels. What do you think led to this comeback?
A: Indeed, the digital music industry has experienced a significant resurgence, especially in India. The key driving force behind this revival can be attributed to the advent of the internet and its widespread availability. In particular, the entry of Jio in 2016 played a pivotal role by drastically reducing internet and data prices. This move prompted other major players like Airtel, Vodafone, and Idea to follow suit, resulting in affordable and easily accessible internet for the masses.
As a consequence, the consumption of digital content, including music, has skyrocketed. Today, almost every individual in India is using around 1.5GB of internet data per day, which is an immense amount. Music, being a highly flexible and easily accessible form of content, has benefited greatly from this digital revolution. Thus, music labels have witnessed a phenomenal surge in their reach and popularity both within India and globally.
Q2: Bollywood music has its own charm, but the rise of independent music and artists has been notable. How does Tips Music fit into this change, and how has the Bollywood music scene evolved alongside independent music?
A: Bollywood music has undoubtedly held a significant place in the hearts of music enthusiasts. However, when Bollywood fails to deliver exceptional music, independent artists seize the opportunity to fill the gap. We have seen this trend emerge over the years. For instance, in the 80s, independent artists like Pankaj Udhas, Anup Jalota, and Jagjit Singh rose to fame when Bollywood music faced challenges.
Similarly, in the 90s, independent artists found success while Bollywood also thrived with excellent music. This indicates that independent music is a product of hard work and dedication by artists who are determined to make a mark. While independent music has gained popularity in recent times due to certain lulls in Bollywood music, film music will always retain its dominance in the industry.
Q3: What exciting developments are happening at Tips Music concerning both the film side and independent music?
A: At Tips Music, we have been actively signing and promoting new artists. Recently, we had the privilege of collaborating with Atif Aslam as an exclusive artist for 7-8 years. His music performed exceptionally well on various OTT platforms, such as YouTube and social media. In the 90s, we also launched artists like Kumar Sanu, Alka Yagnik, and Udit Narayan, who continue to remain among the top artists to this day.
Moreover, the 90s music is experiencing a renaissance and is gaining popularity day by day. This resurgence has been beneficial for our company, as we have a vast collection of iconic songs from that era.
Q4: The future of music labels appears to be changing rapidly. How is Tips Music reinventing itself to stay ahead in the industry?
A: As a music label, we believe in acquiring and creating timeless music. Our focus lies in owning the copyrights to legendary compositions from films like Taal, Raja Hindustani, and Soldier, making us the exclusive owners of these musical gems. Our unique catalog and repertoire are what sets us apart.
Survival in the music industry isn't solely reliant on new releases; instead, having a diverse and strong catalogue is key. We are constantly adapting and exploring new strategies to cater to the evolving needs of music enthusiasts while staying true to our core strengths.
Q5: With the rise of Instagram reels and other short-form video content, are music labels like Tips Music benefiting from them as a revenue generator?
A: Instagram reels have indeed become a popular medium for sharing short-form video content. While it initially presented a potential revenue model, the actual revenue generated hasn't been as substantial as anticipated. Tips Music has collaborated with various platforms in the past, but we have chosen not to renew certain partnerships due to revenue concerns.For us, it is crucial to maintain the value and quality of our music. If partnering with larger companies requires us to compromise on the value of our content, we are willing to take a stand and prioritize our music's worth.
Q6: How are you helping independent artists?
A: As a music label, we have a commercial aspect to consider. Our goal is to increase our top-line and bottom-line growth by a significant margin every year. However, we also believe in supporting artists with great potential.Tips Music has, in the past, signed and supported artists based on their talent and potential for growth. Our recent series, "Tips Rewind," featured Jagjit Singh's evergreen ghazals re-recorded with popular, established, and emerging singers. Additionally, we have recorded new songs with Anup Jalota, totaling over 100 spiritual songs. Our commitment to supporting artists remains strong as we continue to explore various avenues for promoting exceptional talent.
Q7: Among all the genres, which one proves to be the most significant revenue generator for Tips Music?
A: Undoubtedly, film music reigns as the primary revenue generator for Tips Music. Whether it's Hindi, Telugu, Punjabi, or any other language, film music holds a massive sway over the audience. This genre has consistently proven its popularity and has been instrumental in our success as a music label.
Q8: With OTT platforms now becoming a mirror of Bollywood, showcasing songs and bringing Bollywood actresses, what's your perspective on this trend?
A: OTT platforms have rapidly gained popularity, attracting a diverse audience, including different age groups. To cater to this wider audience base, they recognized the importance of integrating music as an essential aspect of their content. Music has always been an integral part of films, and with OTT platforms mirroring Bollywood in many ways, it was only natural for them to showcase songs and feature Bollywood actresses.
The format's success has led to more extensive collaborations between the music industry and OTT platforms, making it a mutually beneficial trend for both. At Tips Music, we understand the significance of music in captivating audiences, and we continue to adapt to the evolving dynamics to reach music enthusiasts across various platforms.
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