Business Standard

Music finds its beat

All the action notwithstanding, the Indian music business remains tiny

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Of the 834 million Indians online, over 192 million are now tuned into some or the other streaming music app, according to Comscore data

Vanita Kohli-Khandekar
For a business that was almost comatose a decade ago, the action has been hectic. From 2020 to earlier this year, mergers and acquisitions in the music industry crossed $10 billion globally. In the last three years, musicians such as Neil Young, Shakira and Bob Dylan have sold their song catalogues to funds and publishers such as Hipgnosis, Royalty Exchange or Universal for 10-15 times their value. In 2019, the Indian arm of the Paris-based Believe bought out the catalogue and music arm of Venus Worldwide for a reported Rs 380 crore. Then late in 2021, it took a 76
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First Published: Feb 17 2022 | 11:16 PM IST

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