| Mumbai, India - July 27 Bharat Book Bureau has | | | | music, if only at the level of `karaoke culture'. |
| added "Music Industry Market Review 2006"( to | | | | According to original research conducted for this |
| its huge collection of business market research | | | | Key Note Market Review, nearly half the |
| reports. | | | | population say they enjoy singing and one in four |
| Music may be defined romantically as `the food of | | | | are able to play a musical instrument (with a |
| love' (Shakespeare) or more prosaically as `sound | | | | musical instrument available to be played in 44% |
| with particular characteristics' (Wikipedia), but it is | | | | of UK homes). |
| undeniably a `vibrant artform' (Arts Council | | | | Amateur participation in music is on the increase |
| England) and one which touches more people, in | | | | generally and one in five adults describe music as |
| more ways, than any other art form. | | | | their `main hobby'. However, despite the interest |
| In commercial terms, music certainly generates a | | | | in music, only 18% of adults go to concerts |
| higher market value than the other arts, although | | | | regularly, and Key Note believes there is great |
| a comprehensive market size for music in all its | | | | potential for the live music market. |
| manifestations is impossible to calculate. Key Note | | | | Encouragement for live events comes from public |
| has put a value of 3.03bn on consumer spending | | | | funders, such as the Art Councils, although funding |
| on music in 2005, derived from three sectors: | | | | is biased towards the more intellectual or minority |
| recorded music (which accounts for the bulk of | | | | types of music (classical, jazz and world music). |
| the market), live music and musical instruments. | | | | In mainstream music, recording and marketing are |
| However, data for other related markets are | | | | now dominated by just four `majors' worldwide, |
| included, such as equipment for home listening and | | | | one of which is the UK's own giant record |
| viewing. | | | | company, EMI Group PLC. The other majors are |
| Recorded music dominates, but this large market | | | | Universal Music Group and Warner Music Group, |
| is on the cusp of a technological revolution that will | | | | based in the US, and Sony BMG, a Japanese |
| eventually transform the way the majority of | | | | German joint venture only created in 2004. |
| people buy music. In 2005, most music was | | | | One of EMI's major strengths is its historic |
| bought as compact disc (CD) albums the `single', | | | | catalogue of recordings and copyrights which |
| vinyl and cassette having already become minor | | | | includes The Beatles and many other enduring |
| sectors but `legal downloading', although still in its | | | | acts of the last century. Although the music |
| infancy, is accelerating rapidly. Key Note forecasts | | | | headlines tend to be dominated by new artists for |
| that, by 2010, legal downloading will account for | | | | example, the Arctic Monkeys, whose first album |
| more than a third of consumer spending on | | | | shot to number one in 2006 the fact is that most |
| recorded music, although the time-lag while older | | | | people's music tastes are fairly conservative and |
| consumers get used to the new technology will | | | | are rooted in the music they grew up with. Key |
| mean that CDs will remain the main format for | | | | Note's survey of artists that the public would take |
| years to come. | | | | to a `desert island' was topped by Abba, The |
| Recent growth in recorded products has also | | | | Beatles, Frank Sinatra and Madonna, although |
| come from music on digital versatile disc (DVD), | | | | Beethoven came fifth. |
| which are rapidly replacing videocassettes, and this | | | | About Bharat Book Bureau |
| marks a shift towards a more `visual' appreciation | | | | are the exclusive distributors for Economist |
| of music and its performers. Young consumers | | | | Intelligence Unit ( EIU ), Euromoney for the |
| are spending more time accessing music through | | | | SAARC region ( India, Nepal, Srilanka, Pakistan, |
| their computers or televisions, having been | | | | Bangladesh, Bhutan, and Maldives ). We facilitate |
| brought up on MTV and other music channels in | | | | and support all your business information needs |
| the new digital media environment of multi-channel | | | | by providing you with the relevant information |
| television and radio. Although radio is now | | | | materials generated and published by global |
| peripheral to television in terms of media | | | | agencies on Core Industry ( Automotive, |
| consumption, the fact remains that music | | | | Insurance, Banking and Finance, Shipping and |
| dominates radio output, and the two are | | | | Marine, Metals and Minerals, Oils and Gas etc. ), |
| self-reliant. | | | | Country Information, Technical and Management |
| In television, music plays a lesser role, but the | | | | subjects, both in print and electronic format. |
| popularity of talent shows such as Pop Idol and | | | | These include Reports, Newsletters, Country and |
| The X Factor has served to raise the profile of | | | | Company profile etc. |