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Indian Music Industry
Founded
28 February 1936
Location
Mumbai, India
Key people
Blaise Fernandes, President & CEO
Website
indianmi.org
The Indian Music Industry (IMI) is a trust that represents the recording industry distributors in India. It was founded on February 28, 1936, as Indian Phonographic Industry (IPI). It is the 2nd oldest music industry organization in the world that was involved in protecting copyrights of music producers and supporting growth of music entertainment industry. In 1994, it was renamed as Indian Music Industry (IMI) and represented India at the International Federation of the Phonographic Industry (IFPI). It is also registered with the West Bengal Societies Registration Act. All major music labels in India are part of this association.
IMI has its registered office in Kolkata and Administrative office in Mumbai. It also has offices in New Delhi, Chennai, Bangalore, Hyderabad and other major Indian cities working on the protection of rights of music producers and preventing music piracy. It has also been instrumental in launching the IMMIES music awards in collaboration with MTV.
The Indian music industry is largely dominated by Indian film soundtracks, which account for nearly 80% of the country's music revenue, followed by Indi-pop.[1][2] As of 2014, the largest Indian music record label is T-Series with up to 35% share of the Indian market, followed by Sony Music India (the largest foreign-owned label) with up to 25% share, and then Zee Music Company (which has a partnership with Sony).[3] As of 2017, 216million Indians use music streaming services such as YouTube, Hungama, Gaana and JioSaavn.[4] T-Series has the world's most-subscribed and most-viewed YouTube channel.
^Hu, Cherie (September 23, 2017). "How India, The Global Music Industry's Sleeping Giant, Is Finally Waking Up". Forbes.
^"The Indian Music Industry is struggling to survive COVID-19". Music Biz Nation.
^Malvania, Urvi (21 April 2014). "Sony Music eyes numero uno position in India". Business Standard.
^"Spotify's plan to beat Apple: sign the rest of the world". Financial Times. 3 January 2019.
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