The Indian Music Industry (IMI) went through a lot of ups and downs in the last fiscal. The music industry which was reported to be around Rs 575 crores in 2011 has grown to Rs 600 crore, with physical sales attributing between Rs 250-300 crores and digital sales to Rs 350-400 crores. The industry grew between 7-10 per cent in the year of 2013. The digital music industry has witnessed a 15 per cent rise in its total income and is further expected to rise through digital downloads, internet and mobile consumption and retail marketing.
Privacy still is a major cause of concern for the Indian Music Industry. The Indian Music companies need to have an effective anti-piracy strategy to help them consolidate the space in the industry. The industry is still incurring a loss of around 1000-1500 crores in revenues due to piracy. The internet and mobile emerge as the leading growth drivers of the Indian music industry as of now with revenues expected to grow manifold in the years to come.