Indian music industry has been facing issues involving piracy and losses incurred by companies following huge acquisition costs coupled with low recoveries. The growth, feel players, will continue to come from Hindi film music.
It is the original film music which will always be in more demand, said Kumar Taurani, Tips Industries managing director.
The growth of remixes is primarily because the process is easy for the producer. Remixes are easy to produce and distribute, said KPMG associate director corporate finance Anindya Roychowdhury.
He added that this has helped in the growth of this industry.
According to T-Series chief executive officer Mukesh Desai, modern beats are added to the older songs which becomes an instant hit among the youngsters. The growth is driven by the large population of youngsters in India and the industry is at present growing at about 10-12% per annum, he added.
However, the gain to one is accompanied by a loss to another. The loser here is the original composer. According to Mr Roychowdhury, currently the loss is as high as Rs 100 crore for the producers of original soundtrack.
Another factor which has helped in the growth of remixes has been the falling shelf life of most albums. This has opened the doors to remixes of the original soundtrack, explains PriceWaterhouseCoopers executive director Deepak Kapoor. He added that the future of original or remix music will depend on access to music and the role of technology.