Music Industry revenues have seen a gradual increase for the last three consecutive years, rising 8.1 % in 2017 with total revenues at US$ 17.3 billion globally, according to the Global Music Report 2018 of Ifpi (International Federation of the Phonographic Industry). However this upturn is mostly on the back of the phenomenal growth of music streaming services like Spotify, Apple Music, Pandora and others, which grew 41.1 % globally.
Digital revenue grew 19.1 % and accounted for 54 % of total global revenues. Revenue from physical media (CDs and Vinyl) sales and digital downloads have both continued to decline, with physical media sales registering lower decline at 5.4 % compared to digital downloads which declined 20.5 %.
In India the music industry beat expectations by registering a 27 % growth in revenues to 725.6 crore in 2017 from 570.7 crore in 2016, again driven by the growth in streaming services which grew 37.26 % and accounted for 91 % of total Indian recorded music industry revenues for the year.
In addition to that positive outcome there are a few more reasons to cheer about besides the growth in digital music. There is tremendous prospect for association of music and branding; and in the area of live music and music festivals. Also the establishment of two new music conferences, All About Music now in its second edition and the recently concluded Music Inc, says a lot about the revival and consolidation taking place within the industry.
Underlying this whole growth story is the revolution created by the ubiquitous mobile phone. The tremendous increase in mobile penetration and sharp drop in data charges has led to a huge increase in consumption of music and videos that is proving to be a boon for the music business. However, piracy continues to be a major concern as most people in the country access music and videos illegally.
As stakeholders, innovators and music makers come together to explore the way forward, we are cautiously positive that this resurgence will grow in strength in the coming years and the over a decade and a half long decline is behind us for good.
It was way back in 1998 that we established, RagatoRock, India's first all genre music magazine. After aspectacular run of almost three years,the print edition was discontinued in favour of an online version. The online version quickly established itself as the leading online music magazine for everything in music.Through the years, we had our share of good times and down times but we have learnt and adapted and are still here unlike so many of our contemporaries and raring to go. The passion that started it all is still burning bright and today we are ready to once again reinvent ourselves with the same fire and undiminished passion.
Nestled in Soul Space Arena, a mall located by the bustling Outer Ring Road, Brew and Barbeque, recently has been reimagined as one of Bangalore’s biggest microbrewery. The Brew and Barbeque has been inspired by the bars in Texas, designed to allow customers a first–hand experience of high-quality dining and a large variety of exotic drinks.Mr Prasanna Kumar, CEO & Managing Partner, The Brew & Barbeque says, “We are proud to say that we are one of the biggest microbrewery pubs in Bangalore. Our attention to detail reflects in the décor which is designed to give a Texan bar feel. At B&B, we have an array of authentic handcrafted brews, and re-enforcing our commitment to providing the best to our customers, we have now launched the complete bar and hand-crafted food menu which will satiate the beverage and food cravings of the city’s connoisseurs and give them a memorable experience.”
Specialties: The mini-concert section at Brew and Barbeque is meant for live music and concerts, this area has a dedicated seating capacity of 100 people, to rave their favourite bands and live performances. Besides serving world class ales, the microbrewery is known for bringing renowned DJs like the king of Bollywood DJ Hussaine, DJ Avijith, DJ Pooja Seth and many more who set the dance floors ablaze with music. Brew and Barbeque offers exquisite food, drinks and music in an ambience that is resplendent with luxury.