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