Start-ups are Creating a Significant Impact on the Music & Entertainment Industry

Nandini Mukherjee Managing EditorBelieve it or not, almost all of us have an inherent love for music and nothing drives and unites us as music does. We do not just have people who have their headphones on an entire day, but an equally great number of singers and bands that are showcased. We are a streaming generation with our iTunes and Spotify apps a click away on our smart devices.

Industry statistics suggest that the total music industry revenues in India grew from Rs 570.7 crore in 2016 to Rs 725.6 crore in 2017. This increase in revenue by Rs 154.9 crore is the largest since 2011, according to
data from IFPI, a not-for-profit international organization which represents the interests of 1,300 record companies from across the globe. Technology is also playing an essential role in the music industry ecosystem. Both of them being increasingly intertwined are allowing for deeper engagement, enhanced discovery, and a better industry for all music lovers. Trends like artificial intelligence (AI), machine learning, Blockchain, and bots are the latest innovations making waves in the music technology landscape. And the best part is artists, digital media brands, and record companies don’t necessarily need to understand these concepts in depth to take advantage of their potential.

The music and entertainment industry is now witnessing a huge boom in the number of startups working in the space, from the days of early iTunes to today’s market full of Spotify, Saavn and entrepreneurs are continuously looking for new ways to push the boundaries of the industry. Many innovative startups are working diligently to develop exciting tech tools that will have a significant impact on the Indian music industry in the coming period.

Our current edition features a list of “10 Most Promising Music & Entertainment Start-ups”. These promising start-ups are a small sample of the many innovators working on developing new solutions to meet the needs of the evolving music business. We also recommend you to read our cover story on From Mug to Mike, a pioneering initiative for all bathroom singers!