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The
Indian music scenario keeps changing all the time. Where Bollywood
ruled the roost earlier, gradually indi-pop grounded itself
and with its buoyant marketing attracted the listeners. The
remix trend closely followed making way for lounge and fusion
music. Even with such changes dominating the Indian music
market, the devotional/religious genre of music has maintained
its stability for more than a decade now.
Times
Music AVP - A&R Rajeeta Hemwani says, "To fight stress,
everyone turns to God and that is working out well for us.
Starting off with chanting of Gayatri mantra 108 times in
a single CD, around a decade ago, Times Music broke the barriers
of conventional Bhajans which was the only visible religious
music on stands. Times Music managed to sell more than a million
copies then; after which the demand for religious music, away
from Bhajans and kirtans, started showing up."
Statistical
Count:
According
to IMI's Savio D'Souza, "Most of the national label target
the 40 major cities of India. There are innumerable minor
and independent labels that people aren't aware of. Many of
them even produce albums in regional languages. For the major
labels, shlokas and mantras sell the most since they cater
to the upper middle class of the population. The other labels,
who target the lower strata of society, know that bhajans
and kirtans on the cassettes sell the most."
IMI
gets just 5 per cent in revenue and 15 per cent in volume
from religious music. Of the total Rs 4 - 5 billion music
business in India, religious music accounts to Rs 250 million
only and makes up for 10-15 per cent of the market share presently.
Adds
Hemwani, "For Times music, 40-50 per cent of the revenue
is generated from religious music. For the past seven to eight
years, the demand for devotional music is escalating. Today,
it's more about mantras; like the mantras for peace, for the
well being of a new born, for pregnant ladies, for rejuvenation,
relaxation and its likes."
Today,
people demand spiritual over devotional under the religious
genre. Sales by genre statistics show that where film music
accounts for 70 per cent, religious music has only 4 per cent
sales. Distribution of music by genre reveals new film music
contributes to 40 per cent followed by old film music, which
accounts for 21 per cent and then comes devotional music,
accounting to around 10 per cent of the total distribution.
D'Souza
further adds, "As far as value is concerned, today religious
music contributes to Rs 250 million. This can by no means
become Rs 5 billion."
For
smaller labels like Sagarika Music Pvt. Ltd. things are very
different.
Adds
Sagarika Music director Sagarika Bam, "Religious music
falls in two categories, devotional and spiritual. We usually
are linked with the niche segment. 20 per cent of our revenue
is generated from religious music. With our Bengali and Marathi
albums, we account for around 8 per cent of the market in
India."
The
Scope for Independent labels:
With
around 10,000 publishers and approximately 40,000 new titles
every year, the domestic market is indeed a large market.
Now when many temples and other independent labels are coming
up with their own religious music records; a confident, Music
Today assistant marketing manager Roli Chaturvedi adds, "These
independent labels don't look threatening as we have been
in the market for a long time now and the audience can relate
to us better than other labels that are creeping up."
Hemwani
also comments, "I know, many of these temples and
small
time labels are invading this segment, but one can't deny
the presence of a brand. Cost conscious people would rather
purchase music from non-established labels, but people looking
out for quality don't compromise. In fact, when Siddhivinayak
came up with their aarti and Shlokas, Times Music marketed
it for them." New devotional releases have to reach the
target audience well on time. Hence, not many minor labels
with a limited reach are able to sustain their leadership
and generate profits.
Diversity
of the Genre:
About
the variety this segment offers, Chaturvedi says, "There
are a couple of common mantras that sell the most like the
Gayatri mantra and Hanuman Chalisa. But there are so many
unexplored mantras that we, as a music label, are trying to
come up with. They are exceptional and unconventional shlokas.
Majority of people follow the common shlokas, but there are
many as well who demand these unconventional shlokas which
not many labels are aware of. We are working on offering more
and more variety in the exceptional category."
Piracy
Problems:
Pirates
has not spared even this genre of music. But, there exists
a differential pricing policy here. While the target audience
for film music is bulky, there is a comparatively low demand
for devotional music. Hence, these albums are retailed at
higher prices by national labels. Also, the demand for devotional
music tends to be more or less festival-oriented. This has
a strong bearing on pricing policies. Shares Gupta, "Due
to piracy, the recovery cost becomes problematic. For Universal,
not more than 10-15 percent of revenue is obtained from religious
music after cutting down the money lost due to piracy."
Bidding
the Money:
To
prove the kind of money this segment is generating, Hemwani
adds, "The music industry is creating awareness about
such beautiful
music present on the stands, so we know that the market share
for religious music will either remain stable or increase
further. It can by no means decline. In fact, today this is
such a prolific segment to make money that Yash Raj Music,
which was earlier just 'Bollywood', is now doing an album
on Sai Baba." Sagarika Music follows a different pricing
strategy altogether as compared to national labels. For them,
working on Marathi and other regional language albums is of
more importance, as the lower strata of society demands more
music in such languages.
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